Jean$-$Pierre makes Spins which sell for $$5,000$ each. Since each Spin only takes one hour to assemble,

there is essentially no work$-$in$-$process inventory.

Each Spin should use $4$ pounds of BS at an expected cost of $$300$ per pound.

Each Spin should incur one direct labor hour at an expected cost of $$200$ per DLH$.$

Overhead is budgeted $($and applied$)$ at $$500$ per DLH$.$

Inventory balances are as follows $($Jean$-$Pierre uses FIFO inventory cost flow assumption$)$:

BS inventory

$1/1/2024$

Units

Dollars

$1\mathrm{.}000$

$$250,000$

$12/31/2024$

$900$

$<$ Budgeted

Finished Spins

$1/1/2024$

$1\mathrm{.}000$ $$1,750,000$

$12/31/2024$

$1\mathrm{.}100$

During $2024($the entire year$)$ Jean$-$Pierre expects to sell $12,000$ Spins.

$1.$ What is the budgeted cost of BS purchased for $2024?$

$<$ Budgeted

$2.$ What is the budgeted dollar value of ending BS inventory?

$3.$ What is the budgeted cost of direct labor for $2024?$

$4.$ What is budgeted overhead for $2024?$

$5.$ What is the budgeted cost of Spins manufactured for $2024?$

$6.$ What is budgeted dollar value of ending Finished Spin inventory?

$7.$ How much income does Jean$-$Pierre expect to make if they sell $12,000$ Spins in $2024$ and

have budgeted Selling & Administrative expenses $($including bribes and kick$-$backs$)$ of

$$30\mathrm{.}000,000($assume no income taxes$)?$

$2$