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Requirements 1-4 have been answered. Can someone help me with the rest? Snowboards b.f. yds Cost Budget Available from beginning direct materials inventory (under a
Requirements 1-4 have been answered. Can someone help me with the rest?
Snowboards b.f. yds Cost Budget Available from beginning direct materials inventory (under a FIFO cost-flow assumption) Wood Fiberalass Wood Fiberglass To be purchased this period Wood Fiberglass II II Direct materials to be used this period Now prepare the direct material purchases budget for January 2021. Direct Materials Purchases Budget For January 2021 Materials Wood Fiberglass Total Physical Units Budget Physical Units Budget To be used in production b.f. yards 2,080 yards Add target ending inventory 1,580 b.f. Total requirement b.f. yards Deduct beginning inventory 2,080 b.f. 1,080 yards Purchases to be made b.f. yards Cost Budget Purchases Requirement 4. Prepare a direct manufacturing labor budget for January 2021. (Abbreviation used: DMLH = Direct manufacturing labor hours.) Direct Manufacturing Labor Costs Budget For January 2021 Output Units DMLH Total Hourly For January 2021 Output Units DMLH Total Hourly Produced per Unit Hours Wage Rate Total Snowboards 3 Requirement 5. Prepare a manufacturing overhead budget for January 2021. Begin the manufacturing overhead cost budgets by first determining the formula, then calculate the variable manufacturing overhead costs. (Abbreviation used: Manuf. = Manufacturing.) Begin the manufacturing overhead cost budgets by first determining the formula, then calculate the variable manufacturing overhead costs. (Abbreviation used: Manuf. = Manufacturing.) Variable manufacturing overhead costs = Now prepare the manufacturing overhead cost budgets. Manufacturing Overhead Budget For January 2021 Manufacturing Overhead Budget For January 2021 Variable manufacturing overhead costs Fixed manufacturing overhead costs Total Requirement 6. What is the budgeted manufacturing overhead rate for January 2021? Begin by determining the formula, then enter the appropriate amounts to calculate the budgeted manufacturing overhead rate for January 2021. (Abbreviation used: Manuf. = Manufacturing. Round the overhead rate to the nearest cent.) . = Budgeted manufacturing overhead rate Requirement 7. What is the budgeted manufacturing overhead cost per output unit in January 2021? Choose from any list or enter any number in the input fields and then continue to the next question Begin by determining the formula, then enter the appropriate amounts to calculate the budgeted manufacturing overhead cost per output unit in January 2021. (Abbreviation used: Manuf. = Manufacturing. Round the overhead cost per output unit to the nearest cent.) Budgeted manufacturing overhead - cost per output unit = Requirement 8. Calculate the cost of a snowboard manufactured in January 2021. (Round your answers to the nearest whole dollar.) Requirement 8. Calculate the cost of a snowboard manufactured in January 2021. (Round your answers to the nearest whole dollar.) Unit Costs of Manufacturing Finished Goods For January 2021 Cost per Input per unit unit of input of output Total Choose from any list or enter any number in the input fields and then continue to the next question Direct materials Wood 15 b.f. A Fiberglass 13 yds. Direct manufacturing labor 3 hrs. Budgeted manufacturing overhead cost Total Requirement 9. Prepare an ending inventory budget for both direct materials and finished goods for January 2021. (Round your answers to the nearest whole dollar.) Ending Inventories Budget For January 2021 Quantity Cost per unit Total Direct materials Wood 1,580 Dilecl materiais Wood 1,580 Fiberglass 2,080 Finished goods Snowboard 800 Snowboard 800 Total ending inventory Requirement 10. Prepare a cost of goods sold budget for January 2021. Cost of Goods Sold Budget For January 2021 Requirement 10. Prepare a cost of goods sold budget for January 2021. Cost of Goods Sold Budget For January 2021 Beginning finished goods inventory, January 1 Direct materials used Direct manufacturing labor Direct materials used Direct manufacturing labor Manufacturing overhead Cost of goods manufactured Cost of goods available for sale II Deduct ending finished goods inventory, January 31 Cost of goods available for sale Deduct ending finished goods inventory, January 31 Cost of goods sold Requirement 11. Prepare the budgeted operating income statement for Slides, Inc., for January 2021. Budgeted Operating Income Statement For January 2021 For January 2021 Revenues Cost of goods sold Gross margin Operating (nonmanufacturing) costs Operating income Requirement 12. What questions might the CEO ask the management team when reviewing the budget? Should the CEO set stretch targets? Explain briefly. First, select the questions that the CEO might ask the marketing manager. (Select all that apply.) Now, select the questions that the CEO might ask the production manager. (Select all that apply.) Should the CEO set stretch targets? Explain briefly. Should the CEO set stretch targets? Explain briefly. The CEO because: (Select all that apply.) Requirement 13. How does preparing the budget help Slides' management team better manage the company? Requirement 13. How does preparing the budget help Slides' management team better manage the company? Preparing a budget helps Slides, Inc.: (Select all that apply.) Slides, Inc., manufactures and sells snowboards. Slides manufactures a single model, the Pipex. In late 2020, Slides's management accountant gathered the following data to prepare budgets for January 2021: (Click the icon to view the materials and labor requirements) Other data include: (Click the icon to view the other data.) (Click the icon to view the additional information.) The inventoriable unit cost for ending finished goods inventory on December 31, 2020, is $175.00. Assume Slides uses a FIFO inventory method for both direct materials and finished goods. Ignore work in process in your calculations. (Click the icon to view the direct materials inventories) Read the requirements. (Click the icon to view the additional information.) Requirement 1. Prepare the January 2021 revenues budget (in dollars). Revenue Budget For January 2021 Units Selling price Total revenues Snowboards - X Data Table Data Table K. In lato pary 2021: Other da BE (Clid Materials and Labor Requirements 75.00. Assume Irk in process Direct Materials Inventories Beginning Inventory Ending Inventory January January 1, 2021 31, 2021 2,080 b.f. 1,580 b.f. 1.080 yards 2,080 yards The inve Slides in your Read the Dirert materials Wond Wood Fiberglass 15 board feet (b.f.) per snowboard 13 yards per snowboard Fiberglass Direct manufacturing labor 3 hours per snowboard - Print Done Data Table Done romero Units Selling price Total revenues 2020 Unit Price 2021 Unit Price Snowboards $ S 38.00 per b.f. Wood Fiberglass Direct manufacturing labor 36.00 per b.f. 12.00 per yard $ S S 13.00 per yard Choose from any list or enter any number in the input fields al $ 32.00 per hour S 33.00 per hour - X More Info Dther data include: (Click the icon to view the other dala.) Variable manufacturing overhead is $18 per direct manufacturing labor-hour. There are also $60,000 in fixed manufacturing overhead costs budgeted for January 2021. Slides 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 $330 per sales visit. The marketing plan calls for 42 sales visits during January 2021. Finally, there are 339,000 in fixed operating (nonmanufacturing) costs budgeted for January 2021. The inventoriable unit cost for ending finished goods inventory on December 31, 2020, is $175.00. As Slides uses a FIFO inventory method for both direct materials and finished goods. Ignore work in proc n your calculations. Read the requirements Info Print Done For January 2021 Units Selling price Total revenues Slides's CEO expects to sell 3.700 snowboards during January 2021 at an estimated retail price of S960 per board. Further, the CEO expects 2021 beginning inventory of 500 snowboards and would like to end January 2021 with 800 snowboards in stock. Snowboards Print Done Choose from any list or enter any number in the input fields and then continue to the next Aga target enging tinished goods inventory Total required units 500 Deduct beginning finished goods inventory Units of finished goods to be produced Requirement 3. Prepare the direct material usage and purchases budgets for January 2021. Begin with the physical units portion, then prepare the cost budget portion of the direct material usage budgetStep by Step Solution
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