LearnCoPARAGRAPH IS FOR ASSISTANCE TO HELP WITH THE QUESTIONS IN THE IMAGES ONLY WANT THE IMAGES ANWSEREDLearnCo manufactures and sells one product, an abacus for classroom use, with two models, the Basic model and the Deluxe model. The company began operations on January 1, 20Y1, and is planning for 20Y2, its second year of operations, by preparing budgets from its master budget.The company is trying to decide how many units to manufacture, how much it might spend on direct materials and direct labor, and what their factory overhead expenses might be. In addition, the company is interested in budgeting for selling and administrative costs, and in creating a budgeted income statement showing a prediction of net income for 20Y2.You have been asked to assist the controller of LearnCo in preparing the 20Y2 budgets.Sales BudgetThe sales budget often uses the prior year’s sales as a starting point, and then sales quantities are revised for various factors such as planned advertising and promotion, projected pricing changes, and expected industry and general economic conditions. LearnCo has completed reviewing its prior year’s sales and has prepared the following sales budget.After reviewing LearnCo’s sales budget, you note that three numbers have been omitted. The company’s controller has told you that the units sold for the Basic and Deluxe models are expected to be the same. Fill in the missing amounts.LearnCoSales BudgetFor the Year Ending December 31, 20Y2ProductUnit SalesVolumeUnit SellingPriceTotalSalesBasic Abacusfill in the blank c4ee4cf7601604b_1$8$288,000Deluxe Abacusfill in the blank c4ee4cf7601604b_2fill in the blank c4ee4cf7601604b_3432,000Totals72,000 $720,000 Feedback Area Feedback Review the preparation of the sales budget and use the information the controller provided.Question Content AreaProduction BudgetThe production budget should be integrated with the sales budget to ensure that production and sales are kept in balance during the year. The production budget estimates the number of units to be manufactured to meet budgeted sales and desired inventory levels.You note that LearnCo has omitted six numbers from the following production budget and fill in the missing amounts. You may need to use numbers from the sales budget you prepared.LearnCoProduction BudgetFor the Year Ending December 31, 20Y2 Units BasicUnits DeluxeExpected units to be sold (from Sales Budget)fill in the blank ae7e5bffffe4f89_1 fill in the blank ae7e5bffffe4f89_2 Desired ending inventory, December 31, 20Y21,000 3,000 Total units availablefill in the blank ae7e5bffffe4f89_3 fill in the blank ae7e5bffffe4f89_4 Estimated beginning inventory, January 1, 20Y2(1,050)(2,100)Total units to be producedfill in the blank ae7e5bffffe4f89_5 fill in the blank ae7e5bffffe4f89_6 Feedback Area Feedback Be sure to include the expected units to be sold for each model from the Sales Budget. Then review the preparation of the production budget and how the amounts are computed.Question Content AreaDirect Materials Purchases BudgetThe direct materials purchases budget should be integrated with the production budget to ensure that production is not interrupted during the year.Before you make any changes to the budget, you review the information on the following Direct Materials Data Table and enter the units to be produced from the Production Budget. After scanning the direct materials purchases budget (which follows the Direct Materials Data Table), you observe that LearnCo has omitted quite a few numbers from the budget. Fill in the missing amounts. You may need to use numbers from the Direct Materials Data Table, or from the sales budget and production budget you prepared. When required, round your answers to the nearest dollar.Direct Materials Data Table Wood PiecesBeadsPackages required per unit: Basic abacus12 Deluxe abacus23Cost per package: Wood pieces$0.25 Beads$0.25 Units to be produced (from Production Budget): Basic abacusfill in the blank f0a29efc5019f8c_1 Deluxe abacusfill in the blank f0a29efc5019f8c_2 LearnCoDirect Materials Purchases BudgetFor the Year Ending December 31, 20Y2 Direct Materials Wood PiecesBeadsTotalPackages required for production: Basic abacusfill in the blank f0a29efc5019f8c_3 fill in the blank f0a29efc5019f8c_4 Deluxe abacusfill in the blank f0a29efc5019f8c_5 fill in the blank f0a29efc5019f8c_6 Desired inventory, December 31, 20Y22,200 5,000 Total packages availablefill in the blank f0a29efc5019f8c_7 fill in the blank f0a29efc5019f8c_8 Estimated inventory, January 1, 20Y2(3,500)(4,500) Total packages to be purchasedfill in the blank f0a29efc5019f8c_9 fill in the blank f0a29efc5019f8c_10 Unit price (per package)× $fill in the blank f0a29efc5019f8c_11 × $fill in the blank f0a29efc5019f8c_12 Total direct materials to be purchased$fill in the blank f0a29efc5019f8c_13 $fill in the blank f0a29efc5019f8c_14 $72,888 bod.co Direct Labor Cost BudgetDirect labor needs from the direct labor cost budget should be coordinated between the production and personnel departments so that there will be enough labor available for production.Before you make any changes to the budget, you review the information on the following Direct Labor Data Table and enter the units to be produced from the Production Budget. After scanning the Direct Labor Cost Budget (which follows the Direct Labor Data Table), you observe that LearnCo has omitted quite a few numbers from the budget. Fill in the missing amounts. Youmay need to use numbers from the Direct Labor Data Table, or from the sales budget, production budget, and direct materials purchases budget you prepared. When required, round your answers to the nearest dollar.Direct Labor Data TableHours required per unit:Basic abacusDeluxe abacusLabor hourly rateGluingAssemblyUnits to be produced (from ProductionBudgBasic abacusDeluxe abacusHours required for production:Basic abacusDeluxe abacusTotalHourly rateTotal direct labor costFeedbackGluingGluing11LearnCoDirect Labor Cost BudgetFor the Year Ending December 31, 2012xXLearnCoFactory Overhead Cost BudgetFor the Year Ending December 31, 20120.100.10x$11$18XXAssembly0.100.20Assembly18X✓Total$277,685Check My WorkReview an example of the direct labor cost budget, and the computations for each part of the budget. You will need to use the information on the Direct Labor Data Table in your computations.Factory Overhead Cost BudgetThe factory overhead cost budget should be integrated with the production budget to ensure that production is not interrupted during the year. This budget may be supported by departmental schedules, which normally separate factory overhead costs into fixed and variable costs so that department managers may monitor and evaluate costs during the year. For simplicity,LearnCo has not separated costs in this manner.After reviewing the following factory overhead cost budget, you note that LearnCo has completed the budget with the exception of one amount. Fill in the missing amount.

Question

LearnCoPARAGRAPH IS FOR ASSISTANCE TO HELP WITH THE QUESTIONS IN THE IMAGES ONLY WANT THE IMAGES ANWSEREDLearnCo manufactures and sells one product, an abacus for classroom use, with two models, the Basic model and the Deluxe model. The company began operations on January 1, 20Y1, and is planning for 20Y2, its second year of operations, by preparing budgets from its master budget.The company is trying to decide how many units to manufacture, how much it might spend on direct materials and direct labor, and what their factory overhead expenses might be. In addition, the company is interested in budgeting for selling and administrative costs, and in creating a budgeted income statement showing a prediction of net income for 20Y2.You have been asked to assist the controller of LearnCo in preparing the 20Y2 budgets.Sales BudgetThe sales budget often uses the prior year’s sales as a starting point, and then sales quantities are revised for various factors such as planned advertising and promotion, projected pricing changes, and expected industry and general economic conditions. LearnCo has completed reviewing its prior year’s sales and has prepared the following sales budget.After reviewing LearnCo’s sales budget, you note that three numbers have been omitted. The company’s controller has told you that the units sold for the Basic and Deluxe models are expected to be the same. Fill in the missing amounts.LearnCoSales BudgetFor the Year Ending December 31, 20Y2ProductUnit SalesVolumeUnit SellingPriceTotalSalesBasic Abacusfill in the blank c4ee4cf7601604b_1$8$288,000Deluxe Abacusfill in the blank c4ee4cf7601604b_2fill in the blank c4ee4cf7601604b_3432,000Totals72,000 $720,000 Feedback Area Feedback Review the preparation of the sales budget and use the information the controller provided.Question Content AreaProduction BudgetThe production budget should be integrated with the sales budget to ensure that production and sales are kept in balance during the year. The production budget estimates the number of units to be manufactured to meet budgeted sales and desired inventory levels.You note that LearnCo has omitted six numbers from the following production budget and fill in the missing amounts. You may need to use numbers from the sales budget you prepared.LearnCoProduction BudgetFor the Year Ending December 31, 20Y2 Units BasicUnits DeluxeExpected units to be sold (from Sales Budget)fill in the blank ae7e5bffffe4f89_1 fill in the blank ae7e5bffffe4f89_2 Desired ending inventory, December 31, 20Y21,000 3,000 Total units availablefill in the blank ae7e5bffffe4f89_3 fill in the blank ae7e5bffffe4f89_4 Estimated beginning inventory, January 1, 20Y2(1,050)(2,100)Total units to be producedfill in the blank ae7e5bffffe4f89_5 fill in the blank ae7e5bffffe4f89_6  Feedback Area Feedback Be sure to include the expected units to be sold for each model from the Sales Budget. Then review the preparation of the production budget and how the amounts are computed.Question Content AreaDirect Materials Purchases BudgetThe direct materials purchases budget should be integrated with the production budget to ensure that production is not interrupted during the year.Before you make any changes to the budget, you review the information on the following Direct Materials Data Table and enter the units to be produced from the Production Budget. After scanning the direct materials purchases budget (which follows the Direct Materials Data Table), you observe that LearnCo has omitted quite a few numbers from the budget. Fill in the missing amounts. You may need to use numbers from the Direct Materials Data Table, or from the sales budget and production budget you prepared. When required, round your answers to the nearest dollar.Direct Materials Data Table Wood PiecesBeadsPackages required per unit:    Basic abacus12  Deluxe abacus23Cost per package:    Wood pieces$0.25   Beads$0.25 Units to be produced (from Production Budget):    Basic abacusfill in the blank f0a29efc5019f8c_1   Deluxe abacusfill in the blank f0a29efc5019f8c_2 LearnCoDirect Materials Purchases BudgetFor the Year Ending December 31, 20Y2 Direct Materials Wood PiecesBeadsTotalPackages required for production:     Basic abacusfill in the blank f0a29efc5019f8c_3 fill in the blank f0a29efc5019f8c_4    Deluxe abacusfill in the blank f0a29efc5019f8c_5 fill in the blank f0a29efc5019f8c_6  Desired inventory, December 31, 20Y22,200 5,000  Total packages availablefill in the blank f0a29efc5019f8c_7 fill in the blank f0a29efc5019f8c_8  Estimated inventory, January 1, 20Y2(3,500)(4,500) Total packages to be purchasedfill in the blank f0a29efc5019f8c_9 fill in the blank f0a29efc5019f8c_10  Unit price (per package)× $fill in the blank f0a29efc5019f8c_11 × $fill in the blank f0a29efc5019f8c_12  Total direct materials to be purchased$fill in the blank f0a29efc5019f8c_13 $fill in the blank f0a29efc5019f8c_14 $72,888 bod.co Direct Labor Cost BudgetDirect labor needs from the direct labor cost budget should be coordinated between the production and personnel departments so that there will be enough labor available for production.Before you make any changes to the budget, you review the information on the following Direct Labor Data Table and enter the units to be produced from the Production Budget. After scanning the Direct Labor Cost Budget (which follows the Direct Labor Data Table), you observe that LearnCo has omitted quite a few numbers from the budget. Fill in the missing amounts. Youmay need to use numbers from the Direct Labor Data Table, or from the sales budget, production budget, and direct materials purchases budget you prepared. When required, round your answers to the nearest dollar.Direct Labor Data TableHours required per unit:Basic abacusDeluxe abacusLabor hourly rateGluingAssemblyUnits to be produced (from ProductionBudgBasic abacusDeluxe abacusHours required for production:Basic abacusDeluxe abacusTotalHourly rateTotal direct labor costFeedbackGluingGluing11LearnCoDirect Labor Cost BudgetFor the Year Ending December 31, 2012xXLearnCoFactory Overhead Cost BudgetFor the Year Ending December 31, 20120.100.10x$11$18XXAssembly0.100.20Assembly18X✓Total$277,685Check My WorkReview an example of the direct labor cost budget, and the computations for each part of the budget. You will need to use the information on the Direct Labor Data Table in your computations.Factory Overhead Cost BudgetThe factory overhead cost budget should be integrated with the production budget to ensure that production is not interrupted during the year. This budget may be supported by departmental schedules, which normally separate factory overhead costs into fixed and variable costs so that department managers may monitor and evaluate costs during the year. For simplicity,LearnCo has not separated costs in this manner.After reviewing the following factory overhead cost budget, you note that LearnCo has completed the budget with the exception of one amount. Fill in the missing amount.

Accepted Answer

Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

LearnCo Sales Budget For the Year Ending December 31, 20Y2
Product	Unit Sales Volume	Unit Selling Price	Total Sales
Basic Abacus	fill in the blank c4ee4cf7601604b_1	$8	$288,000
Deluxe Abacus	fill in the blank c4ee4cf7601604b_2	fill in the blank c4ee4cf7601604b_3	432,000
Totals	72,000		$720,000

LearnCo Production Budget For the Year Ending December 31, 20Y2
	Units Basic	Units Deluxe
Expected units to be sold (from Sales Budget)	fill in the blank ae7e5bffffe4f89_1	fill in the blank ae7e5bffffe4f89_2
Desired ending inventory, December 31, 20Y2	1,000	3,000
Total units available	fill in the blank ae7e5bffffe4f89_3	fill in the blank ae7e5bffffe4f89_4
Estimated beginning inventory, January 1, 20Y2	(1,050)	(2,100)
Total units to be produced	fill in the blank ae7e5bffffe4f89_5	fill in the blank ae7e5bffffe4f89_6

Direct Materials Data Table
	Wood Pieces	Beads
Packages required per unit:
Basic abacus	1	2
Deluxe abacus	2	3
Cost per package:
Wood pieces	$0.25
Beads	$0.25
Units to be produced (from Production Budget):
Basic abacus	fill in the blank f0a29efc5019f8c_1
Deluxe abacus	fill in the blank f0a29efc5019f8c_2

LearnCo Direct Materials Purchases Budget For the Year Ending December 31, 20Y2
	Direct Materials
	Wood Pieces	Beads	Total
Packages required for production:
Basic abacus	fill in the blank f0a29efc5019f8c_3	fill in the blank f0a29efc5019f8c_4
Deluxe abacus	fill in the blank f0a29efc5019f8c_5	fill in the blank f0a29efc5019f8c_6
Desired inventory, December 31, 20Y2	2,200	5,000
Total packages available	fill in the blank f0a29efc5019f8c_7	fill in the blank f0a29efc5019f8c_8
Estimated inventory, January 1, 20Y2	(3,500)	(4,500)
Total packages to be purchased	fill in the blank f0a29efc5019f8c_9	fill in the blank f0a29efc5019f8c_10
Unit price (per package)	× $fill in the blank f0a29efc5019f8c_11	× $fill in the blank f0a29efc5019f8c_12
Total direct materials to be purchased	$fill in the blank f0a29efc5019f8c_13	$fill in the blank f0a29efc5019f8c_14	$72,888