ANSWER YELLOW PARTS PLEASE

Division N has decided to develop its budget based upon projected sales of 29,000 lamps at $46.00 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 725 pieces and ncreasing the finished goods by 23.00%. Complete the following budgets 1 Production Budget Planned Sales Desired Ending Inventory of Finished Goods (roundup to the next unit) Total Needed Less: Beginning Inventory Total Production {7.01} Lamp Shades - not inventoried they arrive from the shop next door Just-in-time. Needed for Production Desired Ending Inventory Total Needed Less: Beginnng lnventory Total Purchases Cost per piece Cost of Purchases (Round to two places, \$\#\#.\#\#) {8.08} 3 Direct Labor Budget Labor Cost Per Lamp Production Total Labor Cost (Round to two places, \$\#\#\#\#) {8.09} 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, \$\#\#.\#\#) {8.10} Fixed Factory Overhead Total Factory Overhead (Round to two places, $##### ) {8.11} 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, \$\#\#.\#\#) {8.10} Fixed Factory Overhead Total Factory Overhead (Round to two places, \$\#\#.\#\#) {8.11} Predetermined Factory Overhead Rate based upon the budgeted total factory OH, divided by the budgeted number of units to be produced, and then rounded to seven places, $ \#\#.\#\#\#\#\#\#) {8.12} 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