Showmass inc, manifwotures and sels snowboards Showmass marufachures a single model the Ppox in iale? 2080. Showmass's management acceumint gathered tho folowing dats to piepare budgsts for denuasy 2021 (Cick the con toviom the budgeted bolances and adodonal inderitioton pertanivg to the cash buaget) (Cick, the icth lo vew the addtors vawabie and fued mandecturiog cost inderimaben! Dereci menidacturing tatior cost Varatie menudactuing ovithead and Endry mwoesory ? Aead the istruements Next prepare the supporting schedule for the payments of accounts payable. Schedule of Cash Payments for Accounts Payable Prepare the supporting schedule for disbursements for fixed manufacturing and operating (nonmanufacturing) overhead. Schedule of Cash Payments for Fixed Overhead Fixed manufacturing overhead Fixed operating (nonmanufactunng) overhead Total cash payments for fixed overhead Cash Budget For Month Ending January 31, 2021 Cash balance, beginning Add receipts Total cash available for needs Deduct disbursements Total disbursements Cash balance, ending Budgeted Balance Sheet January 31,2021 Assets: Total Liabilities and Stockholders' Equity Total Data table Budgeted balances at January 31,2021 are as follows: Selected budgeted information for December 2020 follows Customer invoices are payable within 30 days. From past experience, Snowmass's accountant projects 25% of invoices will be collected in the month invoiced, and 75% will be collected in the following month. Accounts payable relates only to the purchase of direct materials. Direct materials are purchased on credit with 30% of direct materials purchases paid during the month of the purchase, and 70% paid in the month following Data table Stockholders' equity ? Selected budgeted information for December 2020 follows: Customer invoices are payable within 30 days. From past experience, Snowmass's accountant projects 25% of invoices will be collected in the month invoiced, and 75% will be collected in the following month. Accounts payable relates only to the purchase of direct materials. Direct materials are purchased on credit with 30% of direct materials purchases paid during the month of the purchase, and 70% paid in the month following purchase. Fixed manufacturing overhead costs include $13,000 of depreciation costs and fixed operating (nonmanufacturing) overhead costs include $6,000 of depreciation costs. Direct manufacturing labor and the remaining manufacturing and operating (nonmanufacturing) overhead costs are paid monthly. All property, plant, and equipment acquired during January 2021 were purchased on credit and did not entail any outflow of cash. There were no borrowings or repayments with respect to long-term liabilities in January 2021. On December 15, 2020, Snowmass's board of directors voted to pay a $200,000 dividend to stockholders on January 31,2021 More info Variable manufacturing overhead is $10 per direct manufacturing labor-hour. There are also $24,000 in fixed manufacturing overhead costs budgeted for January 2021. Snowmass 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 $260 per sales visit. The marketing plan calls for 35 sales visits during January 2021. Finally, there are $32,000 in fixed operating (nonmanufacturing) costs budgeted for January 2021. Data table Snowmass' CEO expects to sell 1,800 snowboards during January 2021 at an estimated retail price of $550 per board. Further, the CEO expects 2021 beginning inventory of 500 snowboards and would like to end January 2021 with 700 snowboards in stock Data table Direct manufacturing labor 6 hours per snowboard Snowmass' CEO expects to sell 1,800 snowboards during January 2021 at an estimated retail price of $550 per board. Further, the CEO expects 2021 beginning inventory of 500 snowboards and would like to end January 2021 with 700 snowboards in stock. Other data include: The inventoriable unit cost for ending finished-goods inventory on December 31,2020 , is $240.00. Assume Snowmass uses a FIFO inventory method for both direct materials and finished goods. Ignore work in process in your calculations. Reference Reference $480.500$134.900 Print Done