QuestivII n>/ Tiny Toons was established on January 1, 2022 capitalized though the issuance of common shares for $85,000. Tiny Toons produces miniature, plastic cartoon characters Their 2022 estimated sales are 50,000 units at $120 per unit. Tiny Toons desires an ending inventory of 5,000 units and there is no beginning inventory. 30% of sales are cash and 70% are credit card. The credit card charges a 3% service charge, with 80% of the credit card sales are collected in the current period and 20% in the following period. 90% of the raw material purchases are paid for during the period of purchase, 10% paid in the following period. Materials cost $100 per unit and Tiny Toons desires an ending inventory for raw materials of 25 units. Direct Labour Costs are paid in the period incurred and are $20 per hour and it takes 1 and 2 hours to produce one unit. Manufacturing overhead is allocated based on direct labour hours at $30 per hour. Manufacturing equipment cost $35,000, salvage value $5,000, 5 year useful life All overhead costs (excluding ||| QuestivII n>/ Tiny Toons was established on January 1, 2022 capitalized though the issuance of common shares for $85,000. Tiny Toons produces miniature, plastic cartoon characters Their 2022 estimated sales are 50,000 units at $120 per unit. Tiny Toons desires an ending inventory of 5,000 units and there is no beginning inventory. 30% of sales are cash and 70% are credit card. The credit card charges a 3% service charge, with 80% of the credit card sales are collected in the current period and 20% in the following period. 90% of the raw material purchases are paid for during the period of purchase, 10% paid in the following period. Materials cost $100 per unit and Tiny Toons desires an ending inventory for raw materials of 25 units. Direct Labour Costs are paid in the period incurred and are $20 per hour and it takes 1 and 2 hours to produce one unit. Manufacturing overhead is allocated based on direct labour hours at $30 per hour. Manufacturing equipment cost $35,000, salvage value $5,000, 5 year useful life All overhead costs (excluding |||