Additional Information:

Figurines cost: 9.614

Electrical Sets Cost: 1.30625

Lamp Shade Cost: 6.27

Labor Cost: 2.39625

Variable Overhead Cost: .2385

Variable Selling Cost: 3.31694

Variable Administrative: .0621

Fixed overhead: 270000

Fixed Selling: 27000

Fixed administrative: 56000

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Division N has decided to develop its budget based upon projected sales of 37,000 lamps at $50.00 per lamp. The company has requested that you prepare a master budget for the year. This budget is to be used for planning and control of operations and should be composed of: 1. Production Budget 2. Materials Budget 3. Direct Labor Budget 4. Factory Overhead Budget 5. Selling and Administrative Budget 6. Cost of Goods Sold Budget 7. Budgeted Income Statement 8. Cash Budget Notes for Budgeting: The company wants to maintain the same number of units in the beginning and ending inventories of work-in-process, and electrical parts while increasing the figurines inventory to 575 pieces and decreasing the finished goods by 20%. A1 fx A B C E F G H Overhead Allocation rate based on: 1. Number of Units Total Factory Qverhead / Number of Units (Round to seven places, \$\#\#,\#\#\#\#\#\#) \begin{tabular}{|l|l|l|} \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} {9.01} 2. Direct Labor Hours Total Factory Qverhead / Direct Labor Hours Number of lamps to be Produced Number of lamps per hour Number of Direct Labor Hours (Round to seven places, \$\#\#,\#\#\#\#\#\#)] \begin{tabular}{|l|l|l|} \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} {9.02} 3. Direct Labor Cost Total Factory Dverhead iDirect Labor Cost (Round to four places.\% is two of those places \#\#.\#\#*) \begin{tabular}{|l|l|l|} \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} {9.03} Fixed Selling Variable Selling (Round to two places, \$\#\#,\#\#) Fired Administrative Variable Administrative (Round to two places, \$\#\#,\#) Total Selling and Administrative (Round to two places, \$\#\#\#) {9.04} Cost of Goods Sold Budger - Assume FIFO (First-In, First- 6 Dut) and overhead is applied based on the number of units to be produced. Beginning Inventory, Finished Goods Production Costs: Materials: Figurines: Beginning Inventory Purchased Available for Use Ending Inventory of Figurines Figurines Used In Production Electrical Parts Beginning Inventory Purchased Available for Use Ending Inventory of Electrical Parts Electrical Parts Used In Production Lamp Shades: Lamp Shades Used In Production Total Materials: Labor Qverhead Cost of Goods Available Less: Ending Inventory, Finished Goods Cost of Goods Sold \begin{tabular}{|l|l|l|l|l|} \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline \end{tabular} {9.05} {9.06} {9.07} {9.08} {9.09} {9.10} \{9. 11} 19. 12\} 19. 13\} \{9. 14\} Division N has decided to develop its budget based upon projected sales of 37,000 lamps at $50.00 per lamp. The company has requested that you prepare a master budget for the year. This budget is to be used for planning and control of operations and should be composed of: 1. Production Budget 2. Materials Budget 3. Direct Labor Budget 4. Factory Overhead Budget 5. Selling and Administrative Budget 6. Cost of Goods Sold Budget 7. Budgeted Income Statement 8. Cash Budget Notes for Budgeting: The company wants to maintain the same number of units in the beginning and ending inventories of work-in-process, and electrical parts while increasing the figurines inventory to 575 pieces and decreasing the finished goods by 20%. A1 fx A B C E F G H Overhead Allocation rate based on: 1. Number of Units Total Factory Qverhead / Number of Units (Round to seven places, \$\#\#,\#\#\#\#\#\#) \begin{tabular}{|l|l|l|} \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} {9.01} 2. Direct Labor Hours Total Factory Qverhead / Direct Labor Hours Number of lamps to be Produced Number of lamps per hour Number of Direct Labor Hours (Round to seven places, \$\#\#,\#\#\#\#\#\#)] \begin{tabular}{|l|l|l|} \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} {9.02} 3. Direct Labor Cost Total Factory Dverhead iDirect Labor Cost (Round to four places.\% is two of those places \#\#.\#\#*) \begin{tabular}{|l|l|l|} \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} {9.03} Fixed Selling Variable Selling (Round to two places, \$\#\#,\#\#) Fired Administrative Variable Administrative (Round to two places, \$\#\#,\#) Total Selling and Administrative (Round to two places, \$\#\#\#) {9.04} Cost of Goods Sold Budger - Assume FIFO (First-In, First- 6 Dut) and overhead is applied based on the number of units to be produced. Beginning Inventory, Finished Goods Production Costs: Materials: Figurines: Beginning Inventory Purchased Available for Use Ending Inventory of Figurines Figurines Used In Production Electrical Parts Beginning Inventory Purchased Available for Use Ending Inventory of Electrical Parts Electrical Parts Used In Production Lamp Shades: Lamp Shades Used In Production Total Materials: Labor Qverhead Cost of Goods Available Less: Ending Inventory, Finished Goods Cost of Goods Sold \begin{tabular}{|l|l|l|l|l|} \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline \end{tabular} {9.05} {9.06} {9.07} {9.08} {9.09} {9.10} \{9. 11} 19. 12\} 19. 13\} \{9. 14\}