Walls Company manufactures and sells executive writing desks. The following information gathered by the companys accountant is for the 2017 budget: The company expects to sell 1,000 executive writing desks during 2017 at an estimated price of $450 per desk.

Materials and labor per desk:

Direct materials (wood) 5 board feet (b.f) per desk

Direct manufacturing labor 6 hours per desk

Stanford Company manufactures and sells executive writing desks. The following information gathered by the companys accountant is for the 2017 budget:

The company expects to sell 1,000 executive writing desks during 2017 at an estimated price of $450 per desk.

Materials and labor per desk:

Direct materials (wood) 5 board feet (b.f) per desk Direct manufacturing labor 6 hours per desk Costs: 2016 Unit price 2017 Unit Price Wood $28 per b.f. $30.00 per b.f. Direct manufacturing labor $24.00 per hour $25.00 per hour

Beginning Ending Inventory Inventory Inventories: 1/1/2017 12/31/2017 Finished goods (executive writing desks) 100 units 200 units Direct materials (wood) 2,000 b.f. 1,500 b.f. Other costs: Budgeted variable manufacturing overhead: Indirect manufacturing labor $28,000 Indirect materials 13,200 Utilities 5,000 Budgeted fixed manufacturing overhead: Depreciation factory equipment 5,060 Factory rent 12,000 Factory managers salary 30,000 Factory security 13,000 Stanford uses direct manufacturing labor-hours as the cost allocation base (denominator level) to allocate variable and fixed manufacturing costs to production.

Budgeted variable marketing expense is 30 sales visits at $250 per visit. Budgeted fixed non-manufacturing costs are: Selling expense, $17,000 Administrative expense, 13,000 The company plans to declare a common stock cash dividend of $5,000 in December 2017. The inventoriable unit cost for ending finished goods inventory on December 31, 2016, is $375. The company uses FIFO inventory method for both direct materials and finished goods.

Budgeted balances at December 31, 2017, in the selected accounts are: Cash $10,000 Accounts receivable 36,000 Factory equipment (net) . 750,000 Office furniture and fixtures (net)... 300,000 Accounts payable 10,000 Note payable (due 02/01/2018) 7,000 Accumulated depreciation factory equipment 150,000 Accumulated depreciation office furniture and fixtures. 50,000 Allowance for doubtful accounts 1,740 Note payable (due 09/30/2020) .. 78,000 Bonds payable (maturing 12/31/2030) .. 100,000

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Common stock ($1 par value) 100,000 Additional paid in capital 600,000 Retained earnings (balance at 1/1/17) 101,520 The companys income tax rate is 20%.

1. Calculate the budgeted manufacturing overhead rate

2. Prepare a cost of goods manufactured budget

3. Prepare a budgeted classified balance sheet as of December 31, 2017

please really need help