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5 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, $ : 01} Cost of Goods Sold Budget - Assume FIFO (First-In, First-Out) and overhead is applied based on the number of units to be produced. Round dollars to seven places, Cost of making one unit next year sin\#\#\#\#\#\#\# Material cost per unit Labor Cost Per Lamp Factory overhead per unit Total cost of one unit ]2\} (Round to seven places, $ \#\#.\#\#\#\#\#\#) 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 Overhead 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 & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline \end{tabular} {9.03} {9.04} {9.05} {9.06} {9.07} {9.09} {9.11} {9.12} I See The Light Projected Income Statement For the Period Ending December 31, 20x1 Sales 25,000 lamps @ $45.00 Cost of Goods Sold @ $28.93 Gross Profit Selling Expenses: Fixed Variable(Commissionperunit)@$3.15$23,000.0078,750.00$101,750.00 Administrative Expenses 41,250.00 Total Selling and Administrative Expenses: Net Profit 143,000.00$258,750.00 Cash Accounts Receivable Inventory Raw Material Fixed Assets Equipment Accumulated Depreciation $20,000.006,800.00 Total Fixed Assets Total Assets 13,200.00$207,410.00 Current Liabilities Accounts Payable Total Liabilities \begin{tabular}{cr} $ & 54,000.00 \\ \hline$54,000.00 \end{tabular} Stockholder's Equity Common Stock Retained Earnings Total Stockholder's Equity Total Liabilities and Stockholder's Equity \begin{tabular}{rr} 153,410.00 \\ \hline$207,410.00 \\ \hline \hline \end{tabular} 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: Expected increases for 202 When calculating projected increases round to SEVEN decimal places, $0.0000000. 1. Material Costs are expected to increase by 6.50%. 2. Labor Costs are expected to increase by 5.50%. 3. Variable Overhead is expected to increase by 6.00%. 4. Fixed Overhead is expected to increase to $260,000. 5. Fixed selling expenses are expected to be $39,000 in 202. 6. Variable selling expenses (measured on a per lamp basis) are expected to increase by 2.00%. 7. Fixed Administrative expenses are expected to increase by $6,000. The total administrative expenses for 20x0 were $41,205.00, when 23,500 units were sold. Use the High-Low method to calculate the total fixed administrative expense. 8. Variable administrative expenses (measured on a per lamp basis) are expected to increase by 2.50%. The total administrative expenses for 200 were $41,205.00, when 23,500 units were sold. Use the High-Low method to calculate the variable administrative expense per lamp. following schedule develop the following figures: 1- 20x2 Projected Variable Manufacturing Unit Cost of a lamp. 2- 202 Projected Variable Unit Cost per lamp. 3- 202 Projected Fixed Costs. 5 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, $ : 01} Cost of Goods Sold Budget - Assume FIFO (First-In, First-Out) and overhead is applied based on the number of units to be produced. Round dollars to seven places, Cost of making one unit next year sin\#\#\#\#\#\#\# Material cost per unit Labor Cost Per Lamp Factory overhead per unit Total cost of one unit ]2\} (Round to seven places, $ \#\#.\#\#\#\#\#\#) 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 Overhead 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 & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline \end{tabular} {9.03} {9.04} {9.05} {9.06} {9.07} {9.09} {9.11} {9.12} I See The Light Projected Income Statement For the Period Ending December 31, 20x1 Sales 25,000 lamps @ $45.00 Cost of Goods Sold @ $28.93 Gross Profit Selling Expenses: Fixed Variable(Commissionperunit)@$3.15$23,000.0078,750.00$101,750.00 Administrative Expenses 41,250.00 Total Selling and Administrative Expenses: Net Profit 143,000.00$258,750.00 Cash Accounts Receivable Inventory Raw Material Fixed Assets Equipment Accumulated Depreciation $20,000.006,800.00 Total Fixed Assets Total Assets 13,200.00$207,410.00 Current Liabilities Accounts Payable Total Liabilities \begin{tabular}{cr} $ & 54,000.00 \\ \hline$54,000.00 \end{tabular} Stockholder's Equity Common Stock Retained Earnings Total Stockholder's Equity Total Liabilities and Stockholder's Equity \begin{tabular}{rr} 153,410.00 \\ \hline$207,410.00 \\ \hline \hline \end{tabular} 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: Expected increases for 202 When calculating projected increases round to SEVEN decimal places, $0.0000000. 1. Material Costs are expected to increase by 6.50%. 2. Labor Costs are expected to increase by 5.50%. 3. Variable Overhead is expected to increase by 6.00%. 4. Fixed Overhead is expected to increase to $260,000. 5. Fixed selling expenses are expected to be $39,000 in 202. 6. Variable selling expenses (measured on a per lamp basis) are expected to increase by 2.00%. 7. Fixed Administrative expenses are expected to increase by $6,000. The total administrative expenses for 20x0 were $41,205.00, when 23,500 units were sold. Use the High-Low method to calculate the total fixed administrative expense. 8. Variable administrative expenses (measured on a per lamp basis) are expected to increase by 2.50%. The total administrative expenses for 200 were $41,205.00, when 23,500 units were sold. Use the High-Low method to calculate the variable administrative expense per lamp. following schedule develop the following figures: 1- 20x2 Projected Variable Manufacturing Unit Cost of a lamp. 2- 202 Projected Variable Unit Cost per lamp. 3- 202 Projected Fixed Costs