Skulas, Inc., manufactures and sells snowboards. Skulas manufactures a single model, the Pipex. In late 2020, Skulas's management accountant gathered the following data to prepare budgets for January 2021: (Click the icon to view the materials and labor requirements) Data Table to view the additional information.) (Click the icon to view the direct materials inventories) (Click the icon to view the additional information.) Other data include: (Click the icon to view the other data) The inventoriable unit cost for ending finished goods inventory on December 31, 2020, is $225.00. Assume Skulas uses a FIFO inventory method for both direct materials and finished goods. Ignore work in process in your calculations Read the requirements Requirement 1. Prepare the January 2021 revenues budget (in dollars) Revenue Budget For January 2021 Units Selling price Total revenues Snowboards Requirement 2. Prepare the January 2021 production budget (in units). Production Budget For January 2021 Budgeted units sales 3.900 900 Add target ending finished goods inventory Total required units 600 Deduct beginning finished goods inventory Click the icon to view the additional information.) (Click the icon to view the direct materials inventories) (Click the icon to view the additi December 31, 2020, is $225.00. Assume Skulas uses a FIFO inventory method for both direct materials and finished goods. Ignore work in process in your calculations. Read the requirements Data table ots 12 equirement 1. Prepare the Januar Materials and Labor Requirements 12 Revenue Bu Direct materials For January 2 Units Selling Wood Fiberglass nowboards Direct manufacturing labor 16 board feet (b.f.) per snowboard 14 yards per snowboard 9 hours per snowboard 12 equirement 2. Prepare the Janua Production Bu For January 2 Print Done udgeted units sales dd target ending finished goods in otal required units 600 (Click the icon to view the materials and labor requirements) (Click the icon to view the additional information.) (Click the icon to view the direct materials inventories) (Click the icon to The inventoriable unit cost for ending finished goods inventory on December 31, 2020, is $225.00. Assume Skulas uses a FIFO inventory method for both direct materials and finished goods, Ignore work in process in your calculations. Read the requirements More info Requirement 1. Prep Uni Snowboards Requirement 2. Prep Skulas's CEO expects to sell 3,900 snowboards during January 2021 at an estimated retail price of $1,350 per board. Further, the CEO expects 2021 beginning inventory of 600 snowboards and would like to end January 2021 with 900 snowboards in stock. For January 2021 Budgeted units sales 3,900 900 Add target ending finished goods inventory Total required units Deduct beginning finished goods inventory 600 Print Done Gra bts f2 50 12 P 12 se (Click the icon to view the materials and labor requirements) (Click the icon to view the additional information.) (Click the icon to view the direct materials inventories) (Click the icon to view t The inventoriable unit cost for ending finished goods inventory on December 31, 2020, is $225.00. Assume Skulas uses a FIFO inventory method for both direct materials and finished goods. Ignore work in process in your calculations Read the mouirements Requirement 1. Prepare th Data table Reve Direct Materials Inventories Beginning Inventory Ending Inventory January January 1, 2021 31, 2021 For Wood 2,090 b.f. 1,590 b.f. Units Fiberglass 1,000 yards 2,000 yards Snowboards Requirement 2. Prepare th Produc For Ja Budgeted units sales Add target ending finished goods inventory Total required units Deduct beginning finished goods inventory 500 600 Print Done - X ots f2 12 12 management accountant gathered the Howing data to prepare budgets for January 2021: (Click the icon to view the materials and labor requirements) (Click the icon to view the additional information.) (Click the icon to view the direct materials inventories) (Click the icon to quirement 1. Prepa Unit nowboards equirement 2. Prep P F More info (Click the icon to view the other data.) The inventoriable unit cost for ending finished goods inventory on December 31, 2020, is $225.00. Assume Skulas uses a FIFO inventory method for both direct materials and finished goods. Ignore work in process in your calculations. Read the requirements Variable manufacturing overhead is $19 per direct manufacturing labor-hour. There are also $75,600 in fixed manufacturing overhead costs budgeted for January 2021. 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 $340 per sales visit. The marketing plan calls for 43 sales visits during January 2021. Finally, there are $40,000 in fixed operating (nonmanufacturing) costs budgeted for January 2021. udgeted units sales" dd target ending finished goods inventory 900 Print Done pts 12 f2 2 2020, SKOOS management accountant gathered the following data to prepare budgets for January 2021: (Click the icon to view the materials and labor requirements) (Click the icon to view the additional information.) (Click the icon to view the direct materials inventories) Click the icon to view the additional information.) (Click the icon to view the other data) The inventoriable unit cost for ending finished goods inventory on December 31, 2020, is $225.00. Assume Skulas uses a FIFO inventory method for both direct materials and finished goods. Ignore work in process in your calculations Read the requirements 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 budget Direct Material Usage Budget in Quantity and Dollars Physical Units Budget For January 2021 Direct materials required for Snowboards Cost Budget Available from beginning direct materials inventory (under a FIFO cost-flow assumption) Material Wood Fiberglass Total yds G bts 12 f2 72 Skulas, Inc., manufactures and sells snowboards. Skulas manufactures a single model, the Pipex. In late 2020, Skulas's management accountant gathered the following data to prepare budgets for January 2021: (Click the icon to view the materials and labor requirements) (Click the icon to view the additional information.) (Click the icon to view the direct materials inventories) (Click the icon to view the additional information.) Other data include: (Click the icon to view the other data) The inventoriable unit cost for ending finished goods inventory on December 31, 2020, is $225.00. Assume Skulas uses a FIFO inventory method for both direct materials and finished goods, Ignore work in process in your calculations. Read the requirements Wood Fiberglass 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 To be used in production b.f. yards Add target ending inventory Total requirement 1,500 bt bf 2,090 yards yards < < Grad pts 12 see 12 pa 12 300 see Skulas, Inc., manufactures and sells snowboards. Skulas manufactures a single model, the Pipex. In late 2020, Skulas's management accountant gathered the following data to prepare budgets for January 2021 (Click the icon to view the materials and labor requirements) (Click the icon to view the additional information.) (Click the icon to view the direct materials inventories) Click the icon to view the additional information.) Other data include (Click the icon to view the other data) The inventoriable unit cost for ending finished goods inventory on December 31, 2020, is $225,00. Assume Skulas uses a FIFO inventory method for both direct materials and finished goods. Ignore work in process in your calculations Read the requarements Deduct beginning inventory Lung bt yards Purchases to be made bf 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 Snowboards Output Units Produced DMLH per Unit 9 Total Hourly Hours Wage Rate Total Grade pts 12 see s 2 past 2 see s see so D Requirement 5. Prepare a manufacturing overhead budget for January 2021. Bogin the manufacturing overhead cost budgets by first determining the formula, then calculate the variable manufacturing overhead costs. (Abbreviation used Mand Mardaturin Skulas, Inc., manufactures and sells snowboards. Skulas manufactures a single model, the Pipex. In late 2020, Skulas's management accountant gathered the following data to prepare budgets for January 2021: (Click the icon to view the materials and labor requirements) (Click the icon to view the additional information) (Click the icon to view the direct materials inventories) Click the icon to view the additional information.) Other data include: (Click the icon to view the other data) The inventoriable unit cost for ending finished goods inventory on December 31, 2020, is $225.00. Assume Skulas uses a FIFO inventory method for both direct materials and finished goods. Ignore work in process in your calculations Read the requirements Now prepare the manufacturing overhead cost budgets 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 Gradebo Des Scor 12 see scor 12 past du 72 see score see score Skulas, Inc., manufactures and sells snowboards. Skulas manufactures a single model, the Pipex. In late 2020, Skulas's management accountant gathered the following data to prepare budgets for January 2021: (Click the icon to view the materials and labor requirements) (Click the icon to view the additional information) (Click the icon to view the direct materials inventories) (Click the icon to view the additional information) Other data include: (Click the icon to view the other data) The inventoriable unit cost for ending finished goods inventory on December 31, 2020, is $225.00. Assume Skulas uses a FIFO inventory method for both direct materials and finished goods. Ignore work in process in your calculations. Read the requirements cost per output unit Requirement B. Calculate the cost of a snowboard manufactured in January 2021 (Round your answers to the nearest whole dollar) Unit Costs of Manufacturing Finished Goods Direct materials Wood Fiberglass For January 2021 Cost per Input per unit unit of input of output Total Direct manufacturing labor Budgeted manufacturing overhead cost 16bf 14 yds his Help Gradebook pes Score 12 see score 22 past due 12 see score see score Skulas, Inc., manufactures and sells snowboards. Skulas manufactures a single model, the Pipex. In late 2020, Skulas's management accountant gathered the following data to prepare budgets for January 2021 (Click the icon to view the materials and labor requirements) (Click the icon to view the additional information.) (Click the icon to view the direct materials inventories) Click the icon to view the additional information.) Other data include (Click the icon to view the other data) The inventoriable unit cost for ending finished goods inventory on December 31, 2020, is $225.00. Assume Skulas uses a FIFO inventory method for both direct materials and finished goods. Ignore work in process in your calculations. Read the requirements Direct materials Wood Fiberglass Finished goods Snowboard Ending Inventories Budget For January 2021 Quantity Cost per unit Total 1,590 2,090 900 Total ending inventory Requirement 10. Prepare a cost of goods sold budget for January 2021. Cost of Goods Sold Budget e He Gradebo bts Scc 12 See scor 12 past du 12 see scor see score D Skulas, Inc., manufactures and sells snowboards. Skulas manufactures a single model, the Pipex. In late 2020, Skulas's management accountant gathered the following data to prepare budgets for January 2021: (Click the icon to view the materials and labor requirements) (Click the icon to view the additional information.) (Click the icon to view the direct materials inventories) Click the icon to view the additional information.) Other data include (Click the icon to view the other data.) The inventoriable unit cost for ending finished goods inventory on December 31, 2020, is $225.00. Assume Skulas uses a FIFO inventory method for both direct materials and finished goods. Ignors workin process in your calculations Read the requicaments Direct materials used Direct manufacturing labor Manufacturing overhead Cost of goods manufactured 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 Skulas, Inc., for January 2021 Budgeted Operating Income Statement Revenues Cost of goods sold For January 2021 H Gradebe pts St 12 see sc 12 past a 12 see sco see sco following data to prepare budgets for January 2021: (Click the icon to view the materials and labor requirements) (Click the icon to view the additional information.) EEB (Click the icon to view the direct materials inventories) Click the icon to view the additional information.) a con 10 View the other des The inventoriable unit cost for ending finished goods inventory on December 31, 2020, is $225.00. Assume Skulas uses a FIFO inventory method for both direct materials and finished goods. Ignore work in process in your calculations. Read the requirements. 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) G bts 12 N 12 12 dowing data to prepare budgets for January 2021: (Click the icon to view the materials and labor requirements) (Click the icon to view the additional information.) (Click the icon to view the direct materials inventories) Click the icon to view the additional information.) (Click the icon to view the other data.) The inventoriable unit cost for ending finished goods inventory on December 31, 2020, is $225.00. Assume Skulas uses a FIFO inventory method for both direct materials and finished goods. Ignore work in process in your calculations Read the requirements Gra bts 12 see 12 pa Should the CEO set stretch targets? Explain briefly The CEO because: (Select all that apply.) 72 Requirement 13. How does preparing the budget help Skulas' management team better manage the company? Preparing a budget helps Skulas, Inc.: (Select all that apply.) see seer