Q2 Skulas's CEO expects to sell 2,900 snowboards during January 2018 at an estimated retail price of $650 per board. Further, the CEO expects 2018 beginning inventory of 500 snowboards and would like to end January 2018 with 200 snowboards in stock Direct Materials Inventories Beginning Inventory 1/1/2018 Ending Inventory 1/31/2018 2,040 b.f. 1,540 b.f. 1,040 yards 2,040 yards Wood Fiberglass Variable manufacturing overhead is $7 per direct manufacturing labor-hour. There are also $81,000 in fixed manufacturing overhead costs budgeted for January 2018. Skulas combines both variable and fixed manufacturing overhead into a single rate based on direct manufacturing labor- hours. Variable marketing costs are allocated at the rate of $250 per sales visit. The marketing plan calls for 38 sales visits during January 2018. Finally, there are $35,000 in fixed nonmanufacturing costs budgeted for January 2018. Other data include: The inventoriable unit cost for ending finished goods inventory on December 31, 2017, is $374.80. 2017 2018 Assume Skulas Unit Price Unit Price uses a FIFO Wood 32,00 per b.f. $34.00 per b.f. inventory method Fiberglass $ 8.00 peryard S 9.00 per yard for both direct Direct manufacturing labor $28.00 per hour $29.00 per hour materials and finished goods. Ignore work in process in your calculations. Required: 1. Prepare the January 2018 revenues budget (in dollars). 2. Prepare the January 2018 production budget (in units). 3. Prepare the direct material usage and purchases budgets for January 2018. 4. Prepare a direct manufacturing labor costs budget for January 2018 5. Prepare a manufacturing overhead costs budget for January 2018 6. What is the budgeted manufacturing overhead rate for January 2018? 7. What is the budgeted manufacturing overhead cost per output unit in January 2018? 8. Calculate the cost of a snowboard manufactured in January 2018 9. Prepare an ending inventory budget for both direct materials and finished goods for January 2018. 10. Prepare a cost of goods sold budget for January 2018. 11. Prepare the budgeted income statement for Skulas, Inc., for January 2018