Brandon's Boards makes reasonably high-end skateboards which sell for $500 each. The production process is fairly...

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Brandon's Boards makes reasonably high-end skateboards which sell for $500 each. The production process is fairly simple and involves assembling components purchased from various suppliers. Since each skateboard only takes two hours to assemble, there is essentially no work-in-process inventory. Brandon's Boards has the capacity to make 700 skateboards per year. Costs for the skateboard components are: Deck $45.00 Trucks Wheels $50.00 40.00 Bearings Bolts, etc. Hardware package -net 30.00 10.00 130.00 Total $175.00 Each board should take two hours of direct labor to assemble. Direct labor wages are $54 per hour. Other indirect manufacturing costs on a monthly basis are budgeted to be: Rent $2,800.00 Insurance 508.80 200.00 Utilities Miscellaneous 500.00 $4,008.80 Inventory balances are as follows (Brandon's uses FIFO inventory cost flow assumption): Units Dollars $15,750 Decks 1/1/2021 350 12/31/2021 360 < Budgeted Hardware Package 1/1/2021 360 $45,800 12/31/2021 370 < Budgeted Finished skateboards 1/1/2021 300 $82,500 12/31/2021 350 < Budgeted During 2021 (the entire year) Brandon's Boards expects to sell 600 skateboards. What is the budgeted cost of Skateboards manufactured for 2021? What is the budgeted cost of Decks purchased for 2021? What is the budgeted cost of Hardware Packages purchased for 2021? What is budgeted dollar value of ending Finished Skateboard inventory? What is the budgeted dollar value of ending Deck inventory? What is the budgeted dollar value of ending Hardware Package inventory? How much income does Brandon's Boards expect to make if they sell 600 skateboards in 2021 and have budgeted Selling & Administrative expenses of $44,497 (assume no income taxes)? Brandon's Boards makes reasonably high-end skateboards which sell for $500 each. The production process is fairly simple and involves assembling components purchased from various suppliers. Since each skateboard only takes two hours to assemble, there is essentially no work-in-process inventory. Brandon's Boards has the capacity to make 700 skateboards per year. Costs for the skateboard components are: Deck $45.00 Trucks Wheels $50.00 40.00 Bearings Bolts, etc. Hardware package -net 30.00 10.00 130.00 Total $175.00 Each board should take two hours of direct labor to assemble. Direct labor wages are $54 per hour. Other indirect manufacturing costs on a monthly basis are budgeted to be: Rent $2,800.00 Insurance 508.80 200.00 Utilities Miscellaneous 500.00 $4,008.80 Inventory balances are as follows (Brandon's uses FIFO inventory cost flow assumption): Units Dollars $15,750 Decks 1/1/2021 350 12/31/2021 360 < Budgeted Hardware Package 1/1/2021 360 $45,800 12/31/2021 370 < Budgeted Finished skateboards 1/1/2021 300 $82,500 12/31/2021 350 < Budgeted During 2021 (the entire year) Brandon's Boards expects to sell 600 skateboards. What is the budgeted cost of Skateboards manufactured for 2021? What is the budgeted cost of Decks purchased for 2021? What is the budgeted cost of Hardware Packages purchased for 2021? What is budgeted dollar value of ending Finished Skateboard inventory? What is the budgeted dollar value of ending Deck inventory? What is the budgeted dollar value of ending Hardware Package inventory? How much income does Brandon's Boards expect to make if they sell 600 skateboards in 2021 and have budgeted Selling & Administrative expenses of $44,497 (assume no income taxes)?

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What is the budgeted cost of Skateboards manufactured for 2021 CALCULATION OF SKATEBOARD ... View the full answer