Question

really need help i have been working on this for hours and barely made any progress, please complete second portion of hw problem from requirments 2-7

Requirements 1. Prepare Trenton's operating budget and cash budget for 2019 by quarter. Required schedules and budgets include: sales budget, production budget direct materials budget, direct labor budget, manufacturing overhead budget, cost of goods sold budget, selling and administrative expense budget, schedule of cash receipts, schedule of cash payments, and cash budget. Manufacturing overhead costs are allocated based on direct labor hours. (Round all calculations to the nearest dollar.) 2. Prepare Trenton's annual financial budget for 2019, including budgeted income statement and budgeted balance sheet. 3. Trenton sold 5,000 sets in 2019, and its actual operating income was as follows: (Click the icon to view the actual income statement.) Prepare a flexible budget performance report through operating income for 2019. Show product costs separately from selling and administrative costs. To simplify the calculations due to sets in beginning inventory having a different cost than those produced and sold in 2019, assume the following product costs: FIA (Click the icon to view the product costs.) 4. What was the effect on Trenton's operating income of selling 800 sets more than the static budget level of sales? 5. What is Trenton's static budget variance for operating income? 6. Explain why the flexible budget performance report provides more useful information to Trenton's managers than the static budget performance report. What insights can Trenton's managers draw from this performance report? 7. During 2019, Trenton recorded the following cost data: D: (Click the icon to view the standard cost data.) (Click the icon to view the actual cost data.) Compute the cost and efficiency variances for direct materials and direct labor. 8. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances. 9. Prepare the standard cost income statement for 2019. 10. Calculate Trenton's ROI for 2019. To calculate average total assets, use the December 31, 2018, balance sheet for the beginning balance and the budgeted balance sheet for December 31, 2019, for the ending balance. Round all of your answers to four decimal places. 11. Calculate Trenton's profit margin ratio for 2019. Interpret your results. 12. Calculate Trenton's asset turnover ratio for 2019. Interpret your results. 13. Use the expanded ROI formula to confirm your results from Requirement 10. Interpret your results. 14. Trenton's management has specified a 30% target rate of return. Calculate Trenton's RI for 2019. Interpret your results.

Answer 1

time wasn´t enought to complete all the requirements. anyways, i hope you can find this useful.

Budgeted income statement
net sales revenue				287,850.00
cost of goods sold
variable manufactured overhead			16200
fixed			31,968.00
raw material			25200	73,368.00
gross profit				214,482.00
selling and adm. Expenses:
variable			2,878.50
fixed			67,200.00	70,140.00
operating income				144,342.00
other income and expenses:
interest expense			480.00
income befor e income taxes				143,862.00
income tax expense				18,000.00
net income				125,862.00