Required: Prepare the following reports for the year 2020
1	Sales Budget in dollars
2	Production Budget in units
3	Direct Materials Budget
4	Direct Labor Budget
5	Manufacturing Overhead Budget
6	Predetermined Overhead Rate
7	Estimated Overhead to be Applied to One Snowboard
8	Calculate the cost to manufacture a snowboard
9	Budgeted Ending Inventory for Materials and Finished Goods
10	Cost of Goods Sold Budget
11	Budgeted Income Statement
12	Budgeted Balance Sheet

Business 1B - Managerial Accounting - Master Budget Comprehensive Project Due Sunday, November 8th, 2020 by 11:59pm Radical Boards, Inc. manufactures and sells a single model of snowboard, the Vortex. In the summer of 2019, Iggy Sawdust, CPA, provided data for the 2020 budget: The unit cost for ending FG inventory at 12/31/19 was $374.80. Ignore Work In Process Direct Material Requirements (per snowboard) Wood Fiberglass Direct Labor Requirements 5 board feet (b.f.) 6 yards 5 hours The December 2020 Budget Includes the following selected balances: Cash Property, Plant, and Equipment Current Liabilities Long Term Liabilities Capital Stock $ 10,000.00 $ 850,000.00 $ 17,000.00 $ 178,000.00 $ 600,000.00 Expected sales during 2020 - 1000 units at $450 per unit Expected inventory balances: 1/1/20 Finished Goods 100 Wood Raw Material 2000 b.f. Fiberglass Raw Material 1000 yards Retained Earnings at balance at 12/31/19 $ 184,980.00 12/31/20 200 1500 b.f. 2000 yards Other data: Wood Fiberglass Direct labor Unit Prices $30.00 per b.f. $5.00 per yard $25.00 per hour Variable Overhead Fixed Overhead Overhead Driver $7.00 per dlh $66,000 DL Hours Required: Prepare the following reports for the year 2020 1 Sales Budget in dollars 2 Production Budget in units 3 Direct Materials Budget 4 Direct Labor Budget 5 Manufacturing Overhead Budget 6 Predetermined Overhead Rate 7 Estimated Overhead to be Applied to One Snowboard 8 Calculate the cost to manufacture a snowboard 9 Budgeted Ending Inventory for Materials and Finished Goods 10 Cost of Goods Sold Budget 11 Budgeted Income Statement 12 Budgeted Balance Sheet mon 000 Variable marketing costs Expected sales visits in 2020 Fixed non-overhead costs $250 per sales visits 30 $30,000