Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

this is cost and management accounting. i need the answer for Question 5-8 please provide working details. Thank you Sloane, Inc., manufactures and sells snowboards.

this is cost and management accounting. i need the answer for Question 5-8

please provide working details. Thank you

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

Sloane, Inc., manufactures and sells snowboards. Sloane manufactures a single model, the Pipex. In the 2018; summer of 2017, Sloane's management accountant gathered the following data to prepare budgets for Materials and Labour Requirements Direct materials Wood Fiberglass Direct manufacturing labour 9 board feet (b.f.) per snowboard 10 yards per snowboard 5hours per snowboard Sloane's CEO expects to sell 2,900 snowboards during 2018 at an estimated retail price of $650 per board. Further, the CEO expects 2018 beginning inventory of 500 snowboards and would like to end 2018 with 200 snowboards in stock. Direct Materials Inventories Beginning Inventory 1/1/2018 Wood Fiberglass Ending Inventory 12/31/2018 2,040 b.f. 1,540 b.f 1,040 yards 2,040 yards Variable manufacturing overhead is $7 per direct manufacturing labour-hour. There are also $80,600 in fixed manufacturing overhead costs budgeted for 2018. Sloane combines both variable and fixed manufacturing overhead into a single rate based on direct manufacturing labour-hours. Variable marketing costs are allocated at the rate of $250 per sales visit. The marketing plan calls for 38 sales visits during 2018. Finally, there are $35,000 in fixed nonmanufacturing costs budgeted for 2018

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: kieso, weygandt and warfield.

14th Edition

9780470587232, 470587288, 470587237, 978-0470587287

More Books

Students also viewed these Accounting questions

Question

I Which of your reasons (if any) were not under your controli>

Answered: 1 week ago