Answer Question 9 & 10 All Parts Please.

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 202.) 1. 21.00% of sales for the year are made in November and December. Since our customers have 60 day terms those funds will be collected be collected in January and February. 2. 81.00% of material purchases will be paid during the year, the remaining portion will be paid in Januay or February. 3. All other manufacturing and operating costs are paid for when incurred. 4. The budgeted depreciation expense is equal to 0.6% of the fixed manufacturing, selling and administrative expenses. 5. Minimum Cash Balance needed for 202, $185,000. I See The Light Projected Cash Budget For the Year Ending December 31, 20x2 Round dollars to two 4 Eactory Overhead Budget Overhead Allocation rate based on: 1. Number of Units Total Factory Overhead / Number of Units (Round to two places, \$\#\#.\#\#) \begin{tabular}{|l|r|r|} \hline & & \\ \hline & & \\ \hline & & $12.11 \\ \hline \end{tabular} {9.01} 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 \begin{tabular}{|l|l|r|} \hline & & \\ \hline & & $2.13 \\ \hline & & \\ \hline & & $ \\ \hline & & 30.64 \\ \hline \end{tabular} {9.02} {9.03} (Round to two places, \$\#\#..\#\#) 6 Selling and Admin. Budget Fixed Selling Variable Selling (Round to two places, \$\#\#.\#\#\#) Fixed Administrative Variable Administrative (Round to two places, $ \#\#.\#\#) Total Selling and Administrative (Round to two places, \$\#\#.\#\#) \begin{tabular}{|l|l|l|l|l|} \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline \end{tabular} {9.04} {9.05} {9.06} {9.07} {9.08} {9.09} {9.10} {9.11} {9.12} {9.13} {9.14} 3 Direct Labor Budget Labor Cost Per Lamp Production Total Labor Cost (Round to two places, \$\#\#.\#\#) 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, \$\#\#.\#\#) Fixed Factory Overhead Total Factory Overhead (Round to two places, \$\#\#.\#\#) Division N has decided to develop its budget based upon projected sales of 29,000 lamps at $55.00 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 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 Total Production he projected cost of a lamp is calculated based upon the projected increases or decreases to urrent costs. The present costs to manufacture one lamp are: xpected increases for 202 Vhen calculating projected increases round to TWO (\$0.00) decimal places. 1. Material Costs are expected to increase by 2.50%. 2. Labor Costs are expected to increase by 6.50%. 3. Variable Overhead is expected to increase by 5.50%. 4. Fixed Overhead is expected to increase to $280,000. 5. Fixed Administrative expenses are expected to increase to $48,000. 6. Variable selling expenses (measured on a per lamp basis) are expected to increase by 6.50%. 7. Fixed selling expenses are expected to be $33,000 in 202. 8. Variable administrative expenses (measured a per lamp basis) are expected to increase by 5.00%. I See The Light Projected Balance Sheet As of December 31, 20x1 Current Assets Cash Accounts Receivable $34,710.0067,500.00 Inventory Raw Material Lamp Kits @ $16.00 8,000.0090,000.00$200,210.00 Fixed Assets Equipment Accumulated Depreciation $20,000.006,800.00 Total Fixed Assets Total Assets $213,410.00 Current Liabilities Accounts Payable Total Liabilities \begin{tabular}{ll} $ & 54,000.00 \\ \hline$54,000.00 \end{tabular} Stockholder's Equity Common Stock Retained Earnings Total Liabilities and Stockholder's Equity \begin{tabular}{rrr} $12,000.00 & \\ 147,410.00 & \\ \cline { 2 - 2 }159,410.00 \\ \hline \hline \end{tabular} 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 202.) 1. 21.00% of sales for the year are made in November and December. Since our customers have 60 day terms those funds will be collected be collected in January and February. 2. 81.00% of material purchases will be paid during the year, the remaining portion will be paid in Januay or February. 3. All other manufacturing and operating costs are paid for when incurred. 4. The budgeted depreciation expense is equal to 0.6% of the fixed manufacturing, selling and administrative expenses. 5. Minimum Cash Balance needed for 202, $185,000. I See The Light Projected Cash Budget For the Year Ending December 31, 20x2 Round dollars to two 4 Eactory Overhead Budget Overhead Allocation rate based on: 1. Number of Units Total Factory Overhead / Number of Units (Round to two places, \$\#\#.\#\#) \begin{tabular}{|l|r|r|} \hline & & \\ \hline & & \\ \hline & & $12.11 \\ \hline \end{tabular} {9.01} 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 \begin{tabular}{|l|l|r|} \hline & & \\ \hline & & $2.13 \\ \hline & & \\ \hline & & $ \\ \hline & & 30.64 \\ \hline \end{tabular} {9.02} {9.03} (Round to two places, \$\#\#..\#\#) 6 Selling and Admin. Budget Fixed Selling Variable Selling (Round to two places, \$\#\#.\#\#\#) Fixed Administrative Variable Administrative (Round to two places, $ \#\#.\#\#) Total Selling and Administrative (Round to two places, \$\#\#.\#\#) \begin{tabular}{|l|l|l|l|l|} \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline \end{tabular} {9.04} {9.05} {9.06} {9.07} {9.08} {9.09} {9.10} {9.11} {9.12} {9.13} {9.14} 3 Direct Labor Budget Labor Cost Per Lamp Production Total Labor Cost (Round to two places, \$\#\#.\#\#) 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, \$\#\#.\#\#) Fixed Factory Overhead Total Factory Overhead (Round to two places, \$\#\#.\#\#) Division N has decided to develop its budget based upon projected sales of 29,000 lamps at $55.00 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 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 Total Production he projected cost of a lamp is calculated based upon the projected increases or decreases to urrent costs. The present costs to manufacture one lamp are: xpected increases for 202 Vhen calculating projected increases round to TWO (\$0.00) decimal places. 1. Material Costs are expected to increase by 2.50%. 2. Labor Costs are expected to increase by 6.50%. 3. Variable Overhead is expected to increase by 5.50%. 4. Fixed Overhead is expected to increase to $280,000. 5. Fixed Administrative expenses are expected to increase to $48,000. 6. Variable selling expenses (measured on a per lamp basis) are expected to increase by 6.50%. 7. Fixed selling expenses are expected to be $33,000 in 202. 8. Variable administrative expenses (measured a per lamp basis) are expected to increase by 5.00%. I See The Light Projected Balance Sheet As of December 31, 20x1 Current Assets Cash Accounts Receivable $34,710.0067,500.00 Inventory Raw Material Lamp Kits @ $16.00 8,000.0090,000.00$200,210.00 Fixed Assets Equipment Accumulated Depreciation $20,000.006,800.00 Total Fixed Assets Total Assets $213,410.00 Current Liabilities Accounts Payable Total Liabilities \begin{tabular}{ll} $ & 54,000.00 \\ \hline$54,000.00 \end{tabular} Stockholder's Equity Common Stock Retained Earnings Total Liabilities and Stockholder's Equity \begin{tabular}{rrr} $12,000.00 & \\ 147,410.00 & \\ \cline { 2 - 2 }159,410.00 \\ \hline \hline \end{tabular}