Accounting Instructions 1. Use the information in the data tab to create the following reports. For each report you will include all cost (direct materials, direct labor, and manufacturing overhead) and the costs will be broken down by behavior (fixed costs and variable costs). Use the examples in the book (referred to below) to guide you on how to set up each report. a. Manufacturing budget (static) for 2020, assuming the 4,000 budgeted kayaks will be produced. See Illustration 10.6 for layout. b. Flexible manufacturing budget for the first quarter ended March 31, 2020. Assume activity levels of 900, 1,000, and 1,050. See illustration 10.10 for layout. (Remember the static budget is for 1 year, but the flexible budget is only for 3 months) c. Manufacturing responsibility report for the quarter ended March 31, 2020 when 1,050 kayaks were made. See illustration 10.21 for layout. Current Designs Rotomolded Line 4,000 $ Kayaks budgeted for production in 2020 Quarters in 2020 Manufacturing overhead budget for 2020 Variable costs Indirect materials Manufacturing supplies Maintenance and utilities Total variable costs Fixed costs Supervision Insurance Depreciation Total fixed costs Total 40,000 53,800 88,000 181,800 $ $ 90,000 14,400 109,800 214,200 396,000 $ $ Budgeted unit costs Polyethylene powder - per pound Finishing kits - each Type I labor - per hour Type II labor - per hour 2 170 15 12 Budgeted labor usage Type I labor - hours Type II labor - hours wn Polyethylene powder required per kayak - pounds Finishing kits required per kayak - kit Kayaks produced in the first quarter 1,050 $ Costs incurred in first quarter Polyethylene powder Finishing kits Type I labor Type II labor Indirect materials Manufacturing supplies Maintenance and utilities Supervision Insurance Depreciation Total 87,000 178,840 31,500 39,060 10,500 14,150 26,000 20,000 3,600 27,450 438,100 $ Accounting Instructions 1. Use the information in the data tab to create the following reports. For each report you will include all cost (direct materials, direct labor, and manufacturing overhead) and the costs will be broken down by behavior (fixed costs and variable costs). Use the examples in the book (referred to below) to guide you on how to set up each report. a. Manufacturing budget (static) for 2020, assuming the 4,000 budgeted kayaks will be produced. See Illustration 10.6 for layout. b. Flexible manufacturing budget for the first quarter ended March 31, 2020. Assume activity levels of 900, 1,000, and 1,050. See illustration 10.10 for layout. (Remember the static budget is for 1 year, but the flexible budget is only for 3 months) c. Manufacturing responsibility report for the quarter ended March 31, 2020 when 1,050 kayaks were made. See illustration 10.21 for layout. Current Designs Rotomolded Line 4,000 $ Kayaks budgeted for production in 2020 Quarters in 2020 Manufacturing overhead budget for 2020 Variable costs Indirect materials Manufacturing supplies Maintenance and utilities Total variable costs Fixed costs Supervision Insurance Depreciation Total fixed costs Total 40,000 53,800 88,000 181,800 $ $ 90,000 14,400 109,800 214,200 396,000 $ $ Budgeted unit costs Polyethylene powder - per pound Finishing kits - each Type I labor - per hour Type II labor - per hour 2 170 15 12 Budgeted labor usage Type I labor - hours Type II labor - hours wn Polyethylene powder required per kayak - pounds Finishing kits required per kayak - kit Kayaks produced in the first quarter 1,050 $ Costs incurred in first quarter Polyethylene powder Finishing kits Type I labor Type II labor Indirect materials Manufacturing supplies Maintenance and utilities Supervision Insurance Depreciation Total 87,000 178,840 31,500 39,060 10,500 14,150 26,000 20,000 3,600 27,450 438,100 $