Question: I just need help with #6-43. But you need #6-42 to get the answer for #6-43. Attached are the questions and I've attached my work

I just need help with #6-43. But you need #6-42 to get the answer for #6-43. Attached are the questions and I've attached my work for #6-42.

I just need help with #6-43. But you need #6-42 to getthe answer for #6-43. Attached are the questions and I've attached mywork for #6-42. 6-42. COMPREHENSIVE OPERATING BUDGET. Skulas, Inc., manufactures and sellssnowboards. Skulas manufactures a single model, the Pipex. In late 2020, Skulas's

6-42. COMPREHENSIVE OPERATING BUDGET. Skulas, Inc., manufactures and sells snowboards. Skulas manufactures a single model, the Pipex. In late 2020, Skulas's management accountant gathered the following data to prepare budgets for January 2021: Materials and Labor Requirements Direct materials Wood 9 board feet (b.f.) per snowboard Fiberglass 10 yards per snowboard Direct manufacturing labor 5 hours per snowboard Skulas's CEO expects to sell 2,900 snowboards during January 2021 at an estimated retail price of $650 per board. Further, the CEO expects a 2021 beginning inventory of 500 snowboards and would like to end January 2021 with 200 snowboards in stock. Direct Materials Inventories Beginning Inventory, Ending Inventory, January 1, 2021 January 31, 2021 Wood 2,040 b.f. 1,540 b.f. Fiberglass 1,040 yards 2,040 yards Variable manufacturing overhead is $7 per direct manufacturing labor-hour. There are also $81,000 in fixed manufacturing overhead costs budgeted for January 2021. Skulas 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 $250 per sales visit. The marketing plan calls for 38 sales visits during January 2021. Finally, there are $35,000 in fixed operating (nonmanufacturing) costs budgeted for January 2021.Other data include the following: 2033] 2021 Unit Price Unit Price Wood $32.00 per ht. $34.00 per ht. Fiberglass $ 3.00 per yard $ 9.00 per yard Direct manutacturing labor $23.00 per hour $20.00 per hour The inventoriable unit cost for ending finished-goods inventory on December 31: 2020. is $374.80. Assume Skulas uses a FIFO inventory method for both direct materials and nished goods. Ignore work in process in your calculations. Required 1. Prepare the January 2021 revenues budget (in dollars}. 2. Prepare the January 2021 production budget {in units}. 3. Prepare the direct material usage and purchases budgets for January 2021. 4. Prepare a direct manufacturing labor costs budget for January 2021. 5. Prepare a manufacturing overhead costs budget for January 2021. 6. What is the budgeted manufacturing overhead rate for January 2021? ?. What is the budgeted manufacturing overhead cost per output unit in January 2021? 3. Calculate the cost of a snowboard manufactured in January 2021. 9. Prepare an ending inventory budget for both direct materials and finished goods for January 2021. 10. Prepare a cost of goods sold budget for January 2021. 11. Prepare the budgeted operating income statement for Skulas, Inc: for January 2021. 12. What questions might the CEO ask the management team when reviewing the budget? Should the CEO set stretch targets\"? Explain briey. 13. Hov.r does preparing the budget help Skulas's management team better manage the company? 6-43. CASH BUDGETING, BUDGETED BALANCE SHEET (CONTINUATION OF 6-42) (APPENDIX). Refer to the information in Problem 6-42. Budgeted balances at January 31, 2021, are as follows: Cash Accounts receivable Inventory Property, plant and equipment (net) $1, 175,600 Accounts payable 7 Long-term liabilities 182,000 Stockholders' equity Selected budget information for December 2020 follows: Cash balance, December 31, 2020 $ 124,000 Budgeted sales 1,650,000 Budgeted materials purchases 820,000Customer invoices are payable within 30 days. From past experience, alcuIas's accountant projects 40% of invoices will be collected in the month invoiced, and 60% will be collected in the following month. Accounts payable relates only to the purchase of direct materials. Direct materials are purchased on credit with 50% of direct materials purchases paid during the month ofthe purchase, and 50% paid in the month following purchase. Fixed manufacturing overhead costs include $54,000 of depreciation costs and tit-ted operating (nonmanufacturing) overhead costs include $10,000 of depreciation costs. Direct manufacturing labor and the remaining manufacturing and operating (nonmanufacturingi overhead costs are paid monthly. All property, plant, and equipment acquired during January 2021 were purchased on credit and did not entail any outflow of cash. There were no borrowings or repayments with respect to long-term liabilities in January 2021. On December 15, 2020. Skulas's board ofdirectors voted t0 pay a $'lFE-D dividend to stockholders on January 31, 2021. Required 1. Prepare a cash budget for January 2021. Show supporting schedules forthe calculation of collection of receivables and payments of accounts payable, and for disbursements for fixed manufacturing and operating {nonmanufacturing} overhead. 2. Situlas is interested in maintaining a minimum cash balance of $120,000 at the end of each month. Will SKUIaS be in a position to pay the $1Erl} dividend on January 31? 3. Why do Skulas's managers prepare a cash budget in addition to the revenue, expenses, and operating income budget? 4-. Prepare a budgeted balance sheet for January 31, 2021. by calculating the January 31, 2021, balances in {at cash, {b} accounts receivable, {c} inventory. {de accounts payable, and {e} plugging in the balance for stockholders' equity

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