dical Boards, the manufactures and sells a single model of snowboard, the Vortex. In the summer of 2022, Iggy Sawdust, CPA, provided data for the 2022 budget: Direct Material Requirements (per snowboard) Wood Fiberglass Direct Labor Requirements Expected sales during 2022 - 1000 units at $450 per unit Expected inventory balances: Finished Goods Wood Raw Material Fiberglass Raw Material Other data: Wood Fiberglass Direct labor Variable Overhead Fixed Overhead Overhead Driver Variable marketing costs Expected sales visits in 2022 Fixed non-overhead costs 5 board feet (b.f.) 6 yards 5 hours 1/1/2022 100 2000 b.f. 1000 yards 12/31/2022 200 1500 b.f. 2000 yards Unit Prices $30.00 per b.f. $5.00 per yard $25.00 per hour $7.00 per dih $66,000 DL Hours $250 per sales visits 30 $30,000 The unit cost for ending FG inventory at 12/31/21 was $374.80. Ignore Work In Process The December 2022 Budget Includes the following selected balances: Cash Property, Plant, and Equipment Current Liabilities Long Term Liabilities Capital Stock Retained Earnings at balance at 12/31/21 Required: Prepare the following reports for the year 2022 1 Sales Budget in dollars 2 3 4 5 6 7 8 9 10 11 12 Production Budget in units Direct Materials Budget Direct Labor Budget $ 10,000.00 $ 850,000.00 Budgeted Income Statement Budgeted Balance Sheet $ 17,000.00 $ 178,000.00 $ 600,000.00 $184,980.00 Manufacturing Overhead Budget Predetermined Overhead Rate Estimated Overhead to be Applied to One Snowboard Calculate the cost to manufacture a snowboard Budgeted Ending Inventory for Materials and Finished Goods Cost of Goods Sold Budget
dical Boards, the manufactures and sells a single model of snowboard, the Vortex. In the summer of 2022, Iggy Sawdust, CPA, provided data for the 2022 budget: Direct Material Requirements (per snowboard) Wood Fiberglass Direct Labor Requirements Expected sales during 2022 - 1000 units at $450 per unit Expected inventory balances: Finished Goods Wood Raw Material Fiberglass Raw Material Other data: Wood Fiberglass Direct labor Variable Overhead Fixed Overhead Overhead Driver Variable marketing costs Expected sales visits in 2022 Fixed non-overhead costs 5 board feet (b.f.) 6 yards 5 hours 1/1/2022 100 2000 b.f. 1000 yards 12/31/2022 200 1500 b.f. 2000 yards Unit Prices $30.00 per b.f. $5.00 per yard $25.00 per hour $7.00 per dih $66,000 DL Hours $250 per sales visits 30 $30,000 The unit cost for ending FG inventory at 12/31/21 was $374.80. Ignore Work In Process The December 2022 Budget Includes the following selected balances: Cash Property, Plant, and Equipment Current Liabilities Long Term Liabilities Capital Stock Retained Earnings at balance at 12/31/21 Required: Prepare the following reports for the year 2022 1 Sales Budget in dollars 2 3 4 5 6 7 8 9 10 11 12 Production Budget in units Direct Materials Budget Direct Labor Budget $ 10,000.00 $ 850,000.00 Budgeted Income Statement Budgeted Balance Sheet $ 17,000.00 $ 178,000.00 $ 600,000.00 $184,980.00 Manufacturing Overhead Budget Predetermined Overhead Rate Estimated Overhead to be Applied to One Snowboard Calculate the cost to manufacture a snowboard Budgeted Ending Inventory for Materials and Finished Goods Cost of Goods Sold Budget
Chapter1: Financial Statements And Business Decisions
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Only need sub-parts 11-12 answered please
Transcribed Image Text:Radical Boards, Inc. manufactures and sells a single model
of snowboard, the Vortex. In the summer of 2022,
Iggy Sawdust, CPA, provided data for the 2022 budget:
Direct Material Requirements (per snowboard)
Wood
Fiberglass
Direct Labor Requirements
Expected sales during 2022 - 1000 units at $450 per unit
Expected inventory balances:
Finished Goods
Wood Raw Material
Fiberglass Raw Material
Other data:
Wood
Fiberglass
Direct labor
Variable Overhead
Fixed Overhead
Overhead Driver
Variable marketing costs
Expected sales visits in 2022
Fixed non-overhead costs
5 board feet (b.f.)
6 yards
5 hours
1/1/2022
100
2000 b.f.
1000 yards
12/31/2022
200
1500 b.f.
2000 yards
Unit Prices
$30.00 per b.f.
$5.00 per yard
$25.00 per hour
$7.00 per dih
$66,000
DL Hours
$250 per sales visits
30
$30,000
The unit cost for ending FG inventory at 12/31/21 was $374.80.
Ignore Work In Process
The December 2022 Budget Includes the following selected balances:
Cash
Property, Plant, and Equipment
Current Liabilities
Long Term Liabilities
Capital Stock
Retained Earnings at balance at 12/31/21
Required: Prepare the following reports for the year 2022
1
Sales Budget in dollars
2
Production Budget in units
3
5
6
7
8
9
10
11
12
Direct Materials Budget
Direct Labor Budget
Manufacturing Overhead Budget
Predetermined Overhead Rate
Estimated Overhead to be Applied to One Snowboard
Calculate the cost to manufacture a snowboard
$ 10,000.00
$ 850,000.00
Budgeted Income Statement
Budgeted Balance Sheet
$ 17,000.00
$ 178,000.00
$ 600,000.00
$184,980.00
Budgeted Ending Inventory for Materials and Finished Goods
Cost of Goods Sold Budget
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