2 Materials Budget Lamp Kits Needed for Production Desired Ending Inventory Total Needed Less: Beginning Inventory Total Purchases Cost per piece Cost of Purchases (Round to two places, S######) 26.400 units 700 units 27,100 units 500 units {8.01) (8.02) {8.03) {8.04 $ $ 16.32 434,112.00 {8.05) {8.06) 3 Direct Labor Budget $ 213 {8.07) Labor Cost Per Lamp Production Total Labor Cost (Round to two places, S#####) $ 56,232.00 {8.08) 4 Factory Overhead Budget Variable Factory Overhead: Variable Factory Overhead Cost Per Unit Number of Units to be produced Total Variable Factory Overhead (Round to two places, S***) Fixed Factory Overhead $ $ 76,560.00 280,000.00 (8.09) (8.10) 7 8 14 05 36 97 98 99 100 101 102 103 104 $ 356.560.00 {811) Total Factory Overhead (Round to two places, SIN$#) $13.21 {9.01) Total Factory Overhead / Number of Units (Round to two places, $### ##) 5 Cost of making one unit next year Cost of one Lamp Kit Labor Cost Per Lamp Factory overhead per unit Total cost of one unit (Round to two places, S##.##) $2.13 {9.02) 31.65 {9.03) 6 Selling and Admin. Budget Fixed Selling Variable Selling (Round to two places, St##.##) Fixed Administrative Variable Administrative (Round to two places, $####) Total Selling and Administrative (Round to two places, $##.##) $85,050.00 {9.04) $ $ 57,240.00 225.290.00 {9.05) (9.06) 7 Round dollars to two places, S##.## $ 90,000.00 19.07) LOSLO Goods Sold Budget Beginning Inventory, Finished Goods Production Costs Materials Lamp Kits Beginning Inventory Purchased Available for Use Ending Inventory of Lamp Kits Lamp Kits Used In Production Total Materials Labor Overhead Cost of Goods Available Less Ending Inventory, Finished Goods Cost of Goods Sold S 11,424.00 {9.08) 6 06 37 08 09 10 11 Google 430,688.00 56.232.00 486,920.00 1,158,770.00 75,960.00 1 082 810.00 (9.09) {9.10) {9.11) (9.12) (9.13) 19.14 $ The projected cost of a lamp is calculated based upon the projected increases or decreases to current costs. The present costs to manufacture one lamp are: 0 1 Lamp Kit $16.0000000 per lamp 20 Direct Labor 2.0000000 per lamp (4 lamps/hr.) 21 Variable Overhead: 2.0000000 per lamp 22 Fixed Overhead 10.0000000 per lamp (based on normal capacity of 25,000 lamps) 23 24 Cost per lamp $30.0000000 per lamp 31 32 Expected increases for 20x2 33 When calculating projected increases round to TWO ($0.00) decimal places 34 35 1. Material Costs are expected to increase by 2.00% 42 43 2. Labor Costs are expected to increase by 6.50%. 44 45 3. Variable Overhead is expected to increase by 4.50% 46 53 4. Fixed Overhead is expected to increase to $280,000 54 55 5. Fixed Administrative expenses are expected to increase to $46,000 56 57 6. Variable selling expenses (measured on a per lamp basis) are expected to increase 64 by 5.00% 65 66 7. Fixed selling expenses are expected to be $37,000 in 20x2. 67 68 8. Variable administrative expenses (measured a per lamp basis) are expected to 75 increase by 6.00% 76 77 On the following schedule develop the following figures: 78 1- 20x2 Projected Variable Manufacturing Unit Cost of a lamp 79 86 2- 20x2 Projected Variable Unit Cost per lamp 87 88 3. 20x2 Projected Fixed Costs 2 Materials Budget Lamp Kits Needed for Production Desired Ending Inventory Total Needed Less: Beginning Inventory Total Purchases Cost per piece Cost of Purchases (Round to two places, S######) 26.400 units 700 units 27,100 units 500 units {8.01) (8.02) {8.03) {8.04 $ $ 16.32 434,112.00 {8.05) {8.06) 3 Direct Labor Budget $ 213 {8.07) Labor Cost Per Lamp Production Total Labor Cost (Round to two places, S#####) $ 56,232.00 {8.08) 4 Factory Overhead Budget Variable Factory Overhead: Variable Factory Overhead Cost Per Unit Number of Units to be produced Total Variable Factory Overhead (Round to two places, S***) Fixed Factory Overhead $ $ 76,560.00 280,000.00 (8.09) (8.10) 7 8 14 05 36 97 98 99 100 101 102 103 104 $ 356.560.00 {811) Total Factory Overhead (Round to two places, SIN$#) $13.21 {9.01) Total Factory Overhead / Number of Units (Round to two places, $### ##) 5 Cost of making one unit next year Cost of one Lamp Kit Labor Cost Per Lamp Factory overhead per unit Total cost of one unit (Round to two places, S##.##) $2.13 {9.02) 31.65 {9.03) 6 Selling and Admin. Budget Fixed Selling Variable Selling (Round to two places, St##.##) Fixed Administrative Variable Administrative (Round to two places, $####) Total Selling and Administrative (Round to two places, $##.##) $85,050.00 {9.04) $ $ 57,240.00 225.290.00 {9.05) (9.06) 7 Round dollars to two places, S##.## $ 90,000.00 19.07) LOSLO Goods Sold Budget Beginning Inventory, Finished Goods Production Costs Materials Lamp Kits Beginning Inventory Purchased Available for Use Ending Inventory of Lamp Kits Lamp Kits Used In Production Total Materials Labor Overhead Cost of Goods Available Less Ending Inventory, Finished Goods Cost of Goods Sold S 11,424.00 {9.08) 6 06 37 08 09 10 11 Google 430,688.00 56.232.00 486,920.00 1,158,770.00 75,960.00 1 082 810.00 (9.09) {9.10) {9.11) (9.12) (9.13) 19.14 $ The projected cost of a lamp is calculated based upon the projected increases or decreases to current costs. The present costs to manufacture one lamp are: 0 1 Lamp Kit $16.0000000 per lamp 20 Direct Labor 2.0000000 per lamp (4 lamps/hr.) 21 Variable Overhead: 2.0000000 per lamp 22 Fixed Overhead 10.0000000 per lamp (based on normal capacity of 25,000 lamps) 23 24 Cost per lamp $30.0000000 per lamp 31 32 Expected increases for 20x2 33 When calculating projected increases round to TWO ($0.00) decimal places 34 35 1. Material Costs are expected to increase by 2.00% 42 43 2. Labor Costs are expected to increase by 6.50%. 44 45 3. Variable Overhead is expected to increase by 4.50% 46 53 4. Fixed Overhead is expected to increase to $280,000 54 55 5. Fixed Administrative expenses are expected to increase to $46,000 56 57 6. Variable selling expenses (measured on a per lamp basis) are expected to increase 64 by 5.00% 65 66 7. Fixed selling expenses are expected to be $37,000 in 20x2. 67 68 8. Variable administrative expenses (measured a per lamp basis) are expected to 75 increase by 6.00% 76 77 On the following schedule develop the following figures: 78 1- 20x2 Projected Variable Manufacturing Unit Cost of a lamp 79 86 2- 20x2 Projected Variable Unit Cost per lamp 87 88 3. 20x2 Projected Fixed Costs