Managerial accounting

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Bonzo's Boards makes reasonably high-end skateboards which sell for $300 process is fairly simple and involves assembling components purchased from various supp each. The production each skateboard only takes one hour to assemble, there is essentially no Bonzo's Boards has the capacity to make 2,000 skateboards per year Costs for the skateboard components are: suppliers. Since work-in-process inventory Deck $40.00 Trucks Wheels Bearings Bolts, etc Hardware package - net $40.00 45.00 20.00 20.00 125.00 Total $165.00 Each board should take one hour of direct labor to assemble. Direct labor wages are $50 per hour. Other costs on a monthly basis are Rent Insurance Utilities Miscellaneous $1,200.00 149.65 117.00 200.00 1,666.65 Inventory balances are as follows (Bonzo's uses FIFO inventory cost flow assumption) Units Dollars 1/1/2017 300 $12,000 Decks 12/31/2017 350 Budgeted Hardware Package 1/1/2017 260 $32,500 12/31/2017 300 Budgeted Finished skateboards 1/1/2017 300 $ 12/31/2017400 Budgeted