A 5 - 9 D G I See The Light Projected Income Statement For the Period Ending December 31, 20x1 750,000.00 $375,000.00 Sales 25,000 lamps Cost of Goods Sold #### Gross Profit Selling Expenses Fixed Variable (Commission per unit) $3.00 Administrative Expenses Fixed Variable Total Selling and Administrative Expenses Net Profit | 75,000.00 $ 98,000.00 @ $2.00 50,000.00 9200000 190 000.00 $ 185,000.00 I See The Light Projected Balance Sheet As of December 31, 20x1 11 12 13 14 15 16 17 18 Preen Vale Tables 9 10 KD I See The Light Projected Balance Sheet As of December 31, 201 534,710.00 67.500.00 66 67 68 69 78 70 30 81 82 91 92 03 94 95 104 105 106 107 Current Assets Cash Accounts Receivable Inventory Raw Material Lamp Kits Work in Process Finished Goods Total Current Assets 8.000.00 500 @ $16.00 0 3000 53000 9000000 5 200 21000 Foed Assets Equipment Accumulated Depreciation Total Foed Assets Total Assets $ 20,000.00 6 800.00 13.200.00 5213.410.00 35400000 554000.00 117 118 19 20 21 22 23 24 Current Liabilities Accounts Payable Total Liabilities Stockholder's Equity Common Stock Retained Earnings Total Stockholder's Equity Total Liabilities and Stockholders Equity $ 12.000.00 147 41000 159 410.00 $ 213 410 00 15 16 17 13 30 11 12 . 3 4 PART 3 5 Budgets 8 7 B. Division N has decided to developes budget based upon projected sales of 41,000 tamps 9 $5500 per lamp 13. The company has requested that you prepare a muster budget for the year. This budget is to be used 14 for planning and control of operations and should be composed of 15 16 1 Production Budget 17 21 2. Materials Budget 22 23 3. Direct Labor Budget -24 25 4. Factory Overhead Budget 29 30 5. Selling and Administrative Budget 31 32 6. Cost of Goods Sold Budget 33 37 7 Budgeted Income Statement 38 39 8 Cash Budget 40 41 Notes for Budgeting 15 12 13 10 11 4 5 2:2 CD mali C B 7 Budgeted Income Statement 8 Cash Budget Totes for Budgeting The company wants to maintain the same number of units in the beginning and ending inventories of vork in process, and electrical parts while increasing the inventory of Lamp Kits to 650 pieces and decreasing the finished goods by 20% Complete the following budgets 1 Production Budget Planned Sales Desired Ending Inventory of Finished Goods Total Needed Less: Beginning Inventory (701) Total Production 13 10 17 15 Present Title base 2 5001 3 4 5 6 2 Materials Budget 3 3 0 5 Lamp Kits Needed for Production Desired Ending Inventory Total Needed LessBeginning Inventory Total Purchases Cost per piece Cost of Purchases (Round to two places, S.) {801) (8 023) (803) (8.04) (0.05) (806) 3 Direct Labor Budget Labor Cost Per Lamp Production Total Labor Cost (Round to two places, SH.) (807) (8.007 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 (8.09) (8.10) (8.11) Total Factory Overhead (Round to two places. S####) 18 Present Value Tables 1 Donal 2501 4 Eactory Overhead Budget (301 Don 19.03) Overhead Allocation rate based on B 1. Number of Units 9 Total Factory Overhead / Number of Units 10 (Round to two places, S.) 11 17 5 Cost of making one voit next year 18 Coat of one Lamp Kil 19 Labor Cost Per Lamp 20 Factory overhead per unit 21 27 Total cost of one unit 28 (Round to two places, SW18) 29 40 41 6 Selling and Admin Budget 47 48 Foxed Selling 49 Vanable Selling (Round to two places, sew) 50 Fixed Administrative 51 Variable Administrative (Round to two places, S83) 57 Total Selling and Administrative (Round to two places, Sw) 58 w Goods (800 (305) (905) 1 Sold Round dollars to Two places SA (107 59 60 61 Budget Beginning Inventory. Finished Goods Production Costa 10 12 14 15 13 5 16 6 17 16 Presentaties 10 fre TE 6 Selling and Admin Budget Fixed Selling Variable Selling (Round to two places, S.) Fixed Administrative Variable Administrative (Round to two places, saw.) Total Selling and Administrative Round to two places, Saw ) 1909 (105) Goods 7 Sold Round duro 1907) 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 0.00) Total Materals Labor Overhead Cost of Goods Available Less Ending Inventory, Finished Goods Cost of Goods Sold 1909 (10 (111) (9.12) 1914 13 14 15 1 Preset Value Tables 16 ABG D 1 Don Bode 2 5001 3 4 5 B 7 Budgeted Income Statement 3 . 1 Sales Cost of Goods Sold Gross Profit Selling Expenses & Admin Expenses Net Income 11001 8 Cash Budget Assume actual cash receipts and disbursements will follow the pattern below (Note: Receivables and Payables of 12/31/X1 will have a cash impact in 20x2) 21.00% of sales for the year are made in November and December. Since our customers have 60 day torms those funds will be collected be collected in January and Fobruary 83.00% of material purchases will be paid during the year, the remaining portion will be paid in January of February All other manufacturing and operating costs are paid for whon incurred 10 12 13 15 18 11 1 Prots 1 11 re A1 $ - % Alge Auchce widowice Recond Pohon 2021 1200 other made in Home Decor Snow 45 thoudewil beolecabecedy 4412 83.00 preces we paddangtew.theprobelow Alemang undang der when The budget depressioner og ligne S Mun CashBacendedor20.2 10 000 I See The Light Projected Cash Badget For the Year Ending December 31, 202 Round das 63 54 56 Beginning CashBalance Cashindour Sales Collection Account Receivable Sales last year old swes made and collected in 2012 Cash Arabia 2002 100 004 77 2005 Cash Out Purchases Accounts Payable Purchases last year Puchares made and paid for in 2012 Other Manufacturing Costs Duo Labor Tor Marlouring Owedhead Saling and Active Les Deprecision Tot Cash Outflow 10 TOON Budgmed Cash Balance before financing Needed Minum Balance Amount be borrowed 10 Ts A 5 - 9 D G I See The Light Projected Income Statement For the Period Ending December 31, 20x1 750,000.00 $375,000.00 Sales 25,000 lamps Cost of Goods Sold #### Gross Profit Selling Expenses Fixed Variable (Commission per unit) $3.00 Administrative Expenses Fixed Variable Total Selling and Administrative Expenses Net Profit | 75,000.00 $ 98,000.00 @ $2.00 50,000.00 9200000 190 000.00 $ 185,000.00 I See The Light Projected Balance Sheet As of December 31, 20x1 11 12 13 14 15 16 17 18 Preen Vale Tables 9 10 KD I See The Light Projected Balance Sheet As of December 31, 201 534,710.00 67.500.00 66 67 68 69 78 70 30 81 82 91 92 03 94 95 104 105 106 107 Current Assets Cash Accounts Receivable Inventory Raw Material Lamp Kits Work in Process Finished Goods Total Current Assets 8.000.00 500 @ $16.00 0 3000 53000 9000000 5 200 21000 Foed Assets Equipment Accumulated Depreciation Total Foed Assets Total Assets $ 20,000.00 6 800.00 13.200.00 5213.410.00 35400000 554000.00 117 118 19 20 21 22 23 24 Current Liabilities Accounts Payable Total Liabilities Stockholder's Equity Common Stock Retained Earnings Total Stockholder's Equity Total Liabilities and Stockholders Equity $ 12.000.00 147 41000 159 410.00 $ 213 410 00 15 16 17 13 30 11 12 . 3 4 PART 3 5 Budgets 8 7 B. Division N has decided to developes budget based upon projected sales of 41,000 tamps 9 $5500 per lamp 13. The company has requested that you prepare a muster budget for the year. This budget is to be used 14 for planning and control of operations and should be composed of 15 16 1 Production Budget 17 21 2. Materials Budget 22 23 3. Direct Labor Budget -24 25 4. Factory Overhead Budget 29 30 5. Selling and Administrative Budget 31 32 6. Cost of Goods Sold Budget 33 37 7 Budgeted Income Statement 38 39 8 Cash Budget 40 41 Notes for Budgeting 15 12 13 10 11 4 5 2:2 CD mali C B 7 Budgeted Income Statement 8 Cash Budget Totes for Budgeting The company wants to maintain the same number of units in the beginning and ending inventories of vork in process, and electrical parts while increasing the inventory of Lamp Kits to 650 pieces and decreasing the finished goods by 20% Complete the following budgets 1 Production Budget Planned Sales Desired Ending Inventory of Finished Goods Total Needed Less: Beginning Inventory (701) Total Production 13 10 17 15 Present Title base 2 5001 3 4 5 6 2 Materials Budget 3 3 0 5 Lamp Kits Needed for Production Desired Ending Inventory Total Needed LessBeginning Inventory Total Purchases Cost per piece Cost of Purchases (Round to two places, S.) {801) (8 023) (803) (8.04) (0.05) (806) 3 Direct Labor Budget Labor Cost Per Lamp Production Total Labor Cost (Round to two places, SH.) (807) (8.007 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 (8.09) (8.10) (8.11) Total Factory Overhead (Round to two places. S####) 18 Present Value Tables 1 Donal 2501 4 Eactory Overhead Budget (301 Don 19.03) Overhead Allocation rate based on B 1. Number of Units 9 Total Factory Overhead / Number of Units 10 (Round to two places, S.) 11 17 5 Cost of making one voit next year 18 Coat of one Lamp Kil 19 Labor Cost Per Lamp 20 Factory overhead per unit 21 27 Total cost of one unit 28 (Round to two places, SW18) 29 40 41 6 Selling and Admin Budget 47 48 Foxed Selling 49 Vanable Selling (Round to two places, sew) 50 Fixed Administrative 51 Variable Administrative (Round to two places, S83) 57 Total Selling and Administrative (Round to two places, Sw) 58 w Goods (800 (305) (905) 1 Sold Round dollars to Two places SA (107 59 60 61 Budget Beginning Inventory. Finished Goods Production Costa 10 12 14 15 13 5 16 6 17 16 Presentaties 10 fre TE 6 Selling and Admin Budget Fixed Selling Variable Selling (Round to two places, S.) Fixed Administrative Variable Administrative (Round to two places, saw.) Total Selling and Administrative Round to two places, Saw ) 1909 (105) Goods 7 Sold Round duro 1907) 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 0.00) Total Materals Labor Overhead Cost of Goods Available Less Ending Inventory, Finished Goods Cost of Goods Sold 1909 (10 (111) (9.12) 1914 13 14 15 1 Preset Value Tables 16 ABG D 1 Don Bode 2 5001 3 4 5 B 7 Budgeted Income Statement 3 . 1 Sales Cost of Goods Sold Gross Profit Selling Expenses & Admin Expenses Net Income 11001 8 Cash Budget Assume actual cash receipts and disbursements will follow the pattern below (Note: Receivables and Payables of 12/31/X1 will have a cash impact in 20x2) 21.00% of sales for the year are made in November and December. Since our customers have 60 day torms those funds will be collected be collected in January and Fobruary 83.00% of material purchases will be paid during the year, the remaining portion will be paid in January of February All other manufacturing and operating costs are paid for whon incurred 10 12 13 15 18 11 1 Prots 1 11 re A1 $ - % Alge Auchce widowice Recond Pohon 2021 1200 other made in Home Decor Snow 45 thoudewil beolecabecedy 4412 83.00 preces we paddangtew.theprobelow Alemang undang der when The budget depressioner og ligne S Mun CashBacendedor20.2 10 000 I See The Light Projected Cash Badget For the Year Ending December 31, 202 Round das 63 54 56 Beginning CashBalance Cashindour Sales Collection Account Receivable Sales last year old swes made and collected in 2012 Cash Arabia 2002 100 004 77 2005 Cash Out Purchases Accounts Payable Purchases last year Puchares made and paid for in 2012 Other Manufacturing Costs Duo Labor Tor Marlouring Owedhead Saling and Active Les Deprecision Tot Cash Outflow 10 TOON Budgmed Cash Balance before financing Needed Minum Balance Amount be borrowed 10 Ts