Slatts, Inc., manufactures and sells snowboards. Slatts manufactures a single model, the Pipex. In late 2017,...
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Slatts, Inc., manufactures and sells snowboards. Slatts manufactures a single model, the Pipex. In late 2017, Slatts's management accountant gathered the following data to prepare budgets for January 2018: (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 loon to view the additional information.) Requirement 1. Prepare the January 2018 revenues budget (in dollars). Revenue Budget For January 2018 Units Selling price Total revenues 3,900 $ 1.350 S 5,265,000 Snowboards Requirement 2. Prepare the January 2018 production budget (in units). Production Budget For January 2018 Budgeted units sales Add target ending finished goods inventory Total required units. Deduct beginning finished goods inventory. 3,900 900 remaining 4,800 600 2000 Enter any number in the edit fields and then click Check Answer. 14 parts More Info 1 Other data include: EEE (Click the icon to view the other data.) Slatts's CEO expects to sell 3,900 snowboards during January 2018 at an estimated retail price of $1,350 per board. Further, the CEO expects 2018 beginning inventory of 600 snowboards and would like to end January 2018 with 900 snowboards in stock. More Info The inventoriable unit cost for ending finished goods inventory on December 31, 2017, is $225.00. Assume Slatts uses 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 2018. Slatts 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 2018. Finally, there are $40,000 in fixed nonmanufacturing costs budgeted for January 2018. Clear All Rodas Print Done Check Answer i 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. Requirements Prepare the January 2018 revenues budget (in dollars). Prepare the January 2018 production budget (in units). Prepare the direct material usage and purchases budgets for January 2018. Prepare a direct manufacturing labor costs budget for January 2018. Prepare a manufacturing overhead costs budget for January 2018. What is the budgeted manufacturing overhead rate for January 2018? What is the budgeted manufacturing overhead cost per output unit in January 2018? Calculate the cost of a snowboard manufactured in January 2018. Prepare an ending inventory budget for both direct materials and finished goods for January 2018. Prepare a cost of goods sold budget for January 2018. Prepare the budgeted income statement for Slatts, Inc., for January 2018. What questions might the CEO ask the management team when reviewing the budget? Should the CEO set stretch targets? Explain briefly. How does preparing the budget help Slatts's management team better manage the company? Print X Done SI at Je Wood Fiberglass Direct manufacturing labor revenues 5,265,000 ction budget (in units). 3,900 900 4,800 Data Table 600 1.200 ck Check Answer. $ $ $ 2017 Unit Price 37.00 per b.f. 13.00 per yard 33.00 per hour Print Done 2018 Unit Price 39.00 per b.f. $ $ 14.00 per yard $ 34.00 per hour Data Table Wood Fiberglass - Clear All vie t co bd fo ts. Data Table Print Direct materials Wood Materials and Labor Requirements Fiberglass Direct manufacturing labor Direct Materials Inventories Beginning Inventory 1/1/2018 Ending Inventory 1/31/2018 2,090 b.f. 1,590 b.f. 1,090 yards 2,090 yards. Done Print 16 board feet (b.f.) per snowboard 14 yards per snowboard 9 hours per snowboard Done Check Answer Slatts, Inc., manufactures and sells snowboards. Slatts manufactures a single model, the Pipex. In late 2017, Slatts's management accountant gathered the following data to prepare budgets for January 2018: (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 loon to view the additional information.) Requirement 1. Prepare the January 2018 revenues budget (in dollars). Revenue Budget For January 2018 Units Selling price Total revenues 3,900 $ 1.350 S 5,265,000 Snowboards Requirement 2. Prepare the January 2018 production budget (in units). Production Budget For January 2018 Budgeted units sales Add target ending finished goods inventory Total required units. Deduct beginning finished goods inventory. 3,900 900 remaining 4,800 600 2000 Enter any number in the edit fields and then click Check Answer. 14 parts More Info 1 Other data include: EEE (Click the icon to view the other data.) Slatts's CEO expects to sell 3,900 snowboards during January 2018 at an estimated retail price of $1,350 per board. Further, the CEO expects 2018 beginning inventory of 600 snowboards and would like to end January 2018 with 900 snowboards in stock. More Info The inventoriable unit cost for ending finished goods inventory on December 31, 2017, is $225.00. Assume Slatts uses 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 2018. Slatts 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 2018. Finally, there are $40,000 in fixed nonmanufacturing costs budgeted for January 2018. Clear All Rodas Print Done Check Answer i 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. Requirements Prepare the January 2018 revenues budget (in dollars). Prepare the January 2018 production budget (in units). Prepare the direct material usage and purchases budgets for January 2018. Prepare a direct manufacturing labor costs budget for January 2018. Prepare a manufacturing overhead costs budget for January 2018. What is the budgeted manufacturing overhead rate for January 2018? What is the budgeted manufacturing overhead cost per output unit in January 2018? Calculate the cost of a snowboard manufactured in January 2018. Prepare an ending inventory budget for both direct materials and finished goods for January 2018. Prepare a cost of goods sold budget for January 2018. Prepare the budgeted income statement for Slatts, Inc., for January 2018. What questions might the CEO ask the management team when reviewing the budget? Should the CEO set stretch targets? Explain briefly. How does preparing the budget help Slatts's management team better manage the company? Print X Done SI at Je Wood Fiberglass Direct manufacturing labor revenues 5,265,000 ction budget (in units). 3,900 900 4,800 Data Table 600 1.200 ck Check Answer. $ $ $ 2017 Unit Price 37.00 per b.f. 13.00 per yard 33.00 per hour Print Done 2018 Unit Price 39.00 per b.f. $ $ 14.00 per yard $ 34.00 per hour Data Table Wood Fiberglass - Clear All vie t co bd fo ts. Data Table Print Direct materials Wood Materials and Labor Requirements Fiberglass Direct manufacturing labor Direct Materials Inventories Beginning Inventory 1/1/2018 Ending Inventory 1/31/2018 2,090 b.f. 1,590 b.f. 1,090 yards 2,090 yards. Done Print 16 board feet (b.f.) per snowboard 14 yards per snowboard 9 hours per snowboard Done Check Answer
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ANSWER Answer 3 Production requirement for January 2018 4200 Snow... View the full answer
Related Book For
Accounting What the Numbers Mean
ISBN: 978-0078025297
10th edition
Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele
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