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 15 Job Order Costing 16 17 18 19 2 30 To keep records of the actual cost of a special order job, ab Order Cost System has been overed 31 Overhead is applied at the rate of 50% of the direct labor cost 32 33 43 44 Job Order Costing Section 45 46 on January 1, 2012, Division s began Job 2407 for the client, THE BIG CHILDREN STORE The -17 job called for 4,000 customized lamps The following set of transactions occurred from - January 5 until the job was completed 55 59 5 Jan Purchased 4 125 Lamp Kits 516 25 per it co Jan 4,175 sets of Lamp Kits were requestioned 17 un Payroll of 600 Drect Labor Hours $9.45 per hour 30. Jan Payroll of 650 Direct Labor Hours $9.70 per hour 30-an 3.990 lamps were completed and shipped. Al materiais requisitioned were used or scrapped, and are a cost of normal processing Mont End Overhead information Actual Variable Manufacturing Overhead Actual Food Manufacturing Overhead $ 1.27500 $40.373 45 11 14 Paties 10 11 11 9 15 16 17 367 32 16 87 C Actual Variable Manufacturing Overhead Actual Fund Manufacturing Overhead $ 1.275.00 540, 373 45 89 90 100 101 Round to to places. So 102 103 113 114 115 Cost of Direct Material incurred in Manufacturing ob 2407 116 Cost of Direct Labor incurred in Manufacturing Job 2407 130 Cost of Manufacturing Overheid Apped to job 2407 117 127 128 129 130 131 132 133 134 135 136 137 138 130 140 141 142 0309 Cost of manufacturing one lamp (1350 17 18 Table 1 14 10 12 13 4 . 7 ol
