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December 31,2024, follows. (Click the icon to view the balance shoet) Other budget data for Tucci Toy Company: i. (Click the icon to view the other data.) Read the requirements. schedule of cash payments, and cash budget. Manulacturing ovechead costs are alocated based on direct labor hours (Round al calculations to the nearest dollar) Begin by preparing the sales budget. Ask my instructor Data table Property, Plant, and Equipment: \begin{tabular}{|c|r|r|} \hline Equipment & 206,000 & \\ \hline Less: Accumulated Depreciation & (39,000) & 167,000 \\ \hline Total Assets & $ & 243,150 \\ \hline \end{tabular} Liabilities Current Liabilities: Accounts Payable $17,000 Stockholders' Equity Common Stock, no par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity \begin{tabular}{|r|r|r|} \hline$30,000 & \\ \hline 96,150 & \\ \hline & 226,150 \\ \hline$ & 243,150 \\ \hline \end{tabular} 1. Prepare Tucci's operating budget and cash budget for 2025 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 Tucci's annual financial budget for 2025 , including budgeted income statement and budgeted balance sheet. 3. Tucci sold 6,000 sets in 2025 , and its actual operating income was as follows: Piepare a nexibie budget performance report through operating income for 2025. 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 2025, assume the following prifuct costs: Prepare a flexible budget performance report through operating income for 2025 . 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 2025, assume the following product costs 4. What was the effect on Tuccis operating income of selling 200 sets more than the static budget level of sales? 5. What is Tucc's static budget variance for operating incorne? 6. Explain why the flexible budget perfomance report provides more useful information to Tucci? managers than the static budget performance report. What insights can Tuccis managers draw thom this perlommance report? 7. During 2025, Tucd recorded the following cost data below. Compule the cost and elficiency variances for difect materials and direct labor. on u w waruraciunng ovemead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances 9. Prepare the standard cost income statement for 2025 10. Calculate Tuccis ROI for 2025 To calculate average total assets, use the December 31,2024. balance sheet for the beginning balance and the budgeted balance sheet for December 31, 2025, for the ending balance. Round all of your answers to four decimal places 11. Calculate Tuccis profit margin ratio for 2025. Interpret your results. 12. Calculate Tuccis asset turnover ratio for 2025 . Interpret your results. 13. Use the expanded ROI formula to confirm your results from Requirement 10. Interpret your results: 14. Tucci's management has specified a 30% target rate of return. Calculate Tuccis RI for 2025 . Interpretyour results December 31,2024, follows. (Click the icon to view the balance shoet) Other budget data for Tucci Toy Company: i. (Click the icon to view the other data.) Read the requirements. schedule of cash payments, and cash budget. Manulacturing ovechead costs are alocated based on direct labor hours (Round al calculations to the nearest dollar) Begin by preparing the sales budget. Ask my instructor Data table Property, Plant, and Equipment: \begin{tabular}{|c|r|r|} \hline Equipment & 206,000 & \\ \hline Less: Accumulated Depreciation & (39,000) & 167,000 \\ \hline Total Assets & $ & 243,150 \\ \hline \end{tabular} Liabilities Current Liabilities: Accounts Payable $17,000 Stockholders' Equity Common Stock, no par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity \begin{tabular}{|r|r|r|} \hline$30,000 & \\ \hline 96,150 & \\ \hline & 226,150 \\ \hline$ & 243,150 \\ \hline \end{tabular} 1. Prepare Tucci's operating budget and cash budget for 2025 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 Tucci's annual financial budget for 2025 , including budgeted income statement and budgeted balance sheet. 3. Tucci sold 6,000 sets in 2025 , and its actual operating income was as follows: Piepare a nexibie budget performance report through operating income for 2025. 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 2025, assume the following prifuct costs: Prepare a flexible budget performance report through operating income for 2025 . 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 2025, assume the following product costs 4. What was the effect on Tuccis operating income of selling 200 sets more than the static budget level of sales? 5. What is Tucc's static budget variance for operating incorne? 6. Explain why the flexible budget perfomance report provides more useful information to Tucci? managers than the static budget performance report. What insights can Tuccis managers draw thom this perlommance report? 7. During 2025, Tucd recorded the following cost data below. Compule the cost and elficiency variances for difect materials and direct labor. on u w waruraciunng ovemead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances 9. Prepare the standard cost income statement for 2025 10. Calculate Tuccis ROI for 2025 To calculate average total assets, use the December 31,2024. balance sheet for the beginning balance and the budgeted balance sheet for December 31, 2025, for the ending balance. Round all of your answers to four decimal places 11. Calculate Tuccis profit margin ratio for 2025. Interpret your results. 12. Calculate Tuccis asset turnover ratio for 2025 . Interpret your results. 13. Use the expanded ROI formula to confirm your results from Requirement 10. Interpret your results: 14. Tucci's management has specified a 30% target rate of return. Calculate Tuccis RI for 2025 . Interpretyour results

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