hard for me to put everything straight. thanks

COMPREHENSIVE PROBLEM: CHAPTERS 19 TO 26 cas you would like to start a business manufacturing a unique model of bile ration for an interview with the bank to discuss your financing needs, you need to pro ing Information. A number of assumptions are required: clearly note all assumption Festions (a) Identity the types of costs that would likely be involved in making this product (b) Set up five columns as indicated Product Costs Direct Direct Manufacturing Item Materiale Labor Overhead Period Classify the costs you identified in (a) into the manufacturing cost classifications direct materials, direct labor, and manufacturing overhead and periodo Assign hypothetical mo d eller fores to the cost you identified in Caland d) Asume you have no raw materials or work in process beginning or ending a projected cost of goods manufactured schedule for the first month of operatie Project the number of the you expect to produce the first month of operatie cost to produce one bicycle helmet. Review the result to ensure it is able part (e) and adjust the monthly dollar figures you assigned accordingly Continuing Problems 1185 oth the collar and on, direct What type of cost accounting system will you likely job order or process costing? Explain how you would assign costs in either the job order or process.costing stem you plan to use th) Classify your costs as either variable or fixed costs. For simplicity assign all costs to either variable or med, asuming there are no mixed costs, using the format shown. Item Variable Costs Fixed Costs Total Costs m Compute the unit variable cost, using the production number you determined in el 0 Project the number of helmets you anticipate selling the first month of operations. Set a unit sell ing price, and compute both the contribution margin per unit and the contribution margin ratio (1) Determine your break-even point in dollars and in units (1) Prepare projected operating budgets (sales, production, direct materials, direct labor, manufac. turing overhead, selling and administrative expense, and income statement). You will need to make assumptions for each of the following: Direct materials budget: Quantity of direct materials required to produce one helmet; cost per unit of quantity: desired ending direct materials (assume none). Direct labor budget: Direct labor time required per helmet: direct labor cost per hour Budgeted income statement Income tax expense is 45% of income from operations, (m) Prepare a cash budget for the month. Assume the percentage of sales that will be collected from tomers is 75%, and the percentage of direct materials that will be paid in the current month is 75% (n) Determine a relevant range of activity, using the number of helmets produced as your activity Index, Recast your manufacturing overhead budget into a flexible monthly budget for two addi tional activity levels. (o) Identify one potential cause of materials, direct labor, and manufacturing overhead variances for your product. (p) Assume that you wish to purchase production equipment that costs $720,000. Determine the cash payback period, utilizing the monthly cash flow that you computed in part (m) multiplied by 12 months (for simplicity). (Q) Identify any nonfinancial factors that should be considered before commencing your business venture. (a,b,c) Look at number 5 below in other info (d) Assume you have: No beginning or ending raw materials inventory. No beginning or endings work in process inventory. Prepare a projected cost of goods manufactured schedule for the first month of operations. (e) Assume 10,000 helmets will be produced the first month of operations. ( What type of cost accounting (job cost or process costing) (g) Explain how you would assign costs in either job cost or process costing (h) Classify your cost as Variable Costs or Fixed Costs. (NO mixed costs) (1) Compute unit variable cost (J) Estimated number of helmets sold in December 2017=8,000 helmets Projected wholesale selling price = $40 per helmet Find: unit contribution margin And Contribution Margin ratio (k) Find: Breakeven point in dollars And breakeven point in units (L) Prepare operating Budgets: Sales Budget (8000 units) Production budget: Desired ending finished goods units: 2,000 Beginning finished goods units: Direct Materials Budget: unit to be produced: 10,000 DM/unit: 1KG Cost per KG: $7 Desire ending DM=0 Direct Labor Budget: Direct labor time (hours) per unit: 0.35 Direct labor cost per hour $20 Selling and Administrative Expenses budget. Budgeted Income Statement. (m) Prepare: Cash budget (n) Prepare: Monthly flexible manufacturing costs budget (0) Identify one potential cause of materials, direct labor, and MOH variances for your product. (p) Determine the cash payback period (9) Identify any nonfinancial factors that should be considered ......... before commencing your business venture Other Info 1-Bicycle Helmet Company's selling price is $40.00 per device. 2-Each helmet requires 1 kilogram (KG) of material, at a unit cost of $7.00 per kg, to produce. 3- It takes 0.35 direct labor hours to produce one helmet, at a unit price of $20 per hour. 4-Income tax expense is 45% of income from operation. 5-The types of manufacturing and period costs that would be incurred in making helmet, and assumed total dollar amounts are as follows: a. Rent on production equipment: $6,000 b. Insurance on factory building: $1,500 c. Raw Materials: $70,000 d. Utility costs for the factory: $900 e Office supplies: $300 f. Direct labor: $70,000 g. Depreciation on office equipment: $800 h. Miscellaneous manufacturing items: $1,000 i. Administrative salaries: $15,500 j. Property taxes on factory building: $400 k. Advertising for the Helmets: $11,000 1. Sales commissions: $40,000 m. Depreciation on factory building: $1,500 n. Professional fees: $500 0. Research and development: $10,000