Can you please assist with parts 1 & 2?

I See The Light

Projected Income Statement

For the Period Ending December 31, 20x1

Sales 25,000 lamps @ $45.00 $1,125,000.00

Cost of Goods Sold @ $30.00 750,000.00

Gross Profit $375,000.00

Selling Expenses:

Fixed $23,000.00

Variable (Commission per unit) @ $3.00 75,000.00 $98,000.00

Administrative Expenses:

Fixed $42,000.00

Variable @ $2.00 50,000.00 92,000.00

Total Selling and Administrative Expenses: 190,000.00

Net Profit $185,000.00

I See The Light

Projected Balance Sheet

As of December 31, 20x1

Current Assets

Cash $34,710.00

Accounts Receivable 67,500.00

Inventory

Raw Material

Lamp Kits 500 @ $16.00 8,000.00

Work in Process 0 -

Finished Goods 3000 @ $30.00 90,000.00

Total Current Assets $200,210.00

Fixed Assets

Equipment $20,000.00

Accumulated Depreciation 6,800.00

Total Fixed Assets 13,200.00

Total Assets $213,410.00

Current Liabilities

Accounts Payable $54,000.00

Total Liabilities $54,000.00

Stockholder's Equity

Common Stock $12,000.00

Retained Earnings 147,410.00

Total Stockholder's Equity 159,410.00

Total Liabilities and Stockholder's Equity $213,410.00

PART 1
	Fixed and Variable Cost Determinations
	Unit Cost Calculations
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:
	Lamp Kit:		$16.0000000	per lamp
	Direct Labor:		2.0000000	per lamp (4 lamps/hr.)
	Variable Overhead:		2.0000000	per lamp
	Fixed Overhead:		10.0000000	per lamp (based on normal capacity of 25,000 lamps)
	Cost per lamp:		$30.0000000	per lamp
Expected increases for 20x2
When calculating projected increases round to TWO ($0.00) decimal places.
	1. Material Costs are expected to increase by 2.00% .
	2. Labor Costs are expected to increase by 5.50%.
	3. Variable Overhead is expected to increase by 3.50%.
	4. Fixed Overhead is expected to increase to $295,000.
	5. Fixed Administrative expenses are expected to increase to $50,000.
	6. Variable selling expenses (measured on a per lamp basis) are expected to increase
	by 5.00%.
	7. Fixed selling expenses are expected to be $23,000 in 20x2.
	8. Variable administrative expenses (measured a per lamp basis) are expected to
	increase by 3.50%.
On the following schedule develop the following figures:
	1- 20x2 Projected Variable Manufacturing Unit Cost of a lamp.
	2- 20x2 Projected Variable Unit Cost per lamp.
	3- 20x2 Projected Fixed Costs.

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I See The Light, Inc
Schedule of Projected Costs
Variable Manufacturing Unit Cost
	20x1 Cost	Projected Percent Increase	20x2 Cost Rounded to 2 Decimal Places
Lamp Kit	16	2	$16.32	{4.01}
Labor	2	5.5	$2.11	{4.02}
Variable Overhead	2	3.5	$2.07	{4.03}
	10	295000
Projected Variable Manufacturing Cost Per Unit			$20.50	{4.04}
Total Variable Cost Per Unit
	20x1 Cost	Projected Percent Increase	20x2 Cost Rounded to 2 Decimal Places
Variable Selling				{4.05}
Variable Administrative				{4.06}
Projected Variable Manufacturing Unit Cost				{4.04}
Projected Total Variable Cost Per Unit				{4.07}
Schedule of Fixed Costs
	20x1 Cost	Projected Percent Increase	20x2 Cost
Fixed Overhead			$295,000.00	{4.08}
(normal capacity of _________ lamps @ __ )
Fixed Selling			$23,000.00	{4.09}
Fixed Administrative			$50,000.00	{4.10}
Projected Total Fixed Costs			$368,000.00	{4.11}

	PART 2
			Cost Volume Relationships -
			Profit Planning
	Big Al is about to begin work on the budget for 20x2 and they have requested that you prepare an analysis
	based on the following assumptions.
	Note: Remember, that we cannot sell part of a lamp, therefore to find the number of units you have to round
	up to the next complete unit. Furthuremore, to find the required sales in dollars it may be easier to find the
	number of units and then multiply by the selling price per unit.
1.	For 20x2 the selling price per lamp will be $45.00. What is the projected contribution margin and contribution
	margin ratio for each lamp sold?
	sales		45
	variable cost
	contribution margin
	Contribution Margin per unit (Round to two places, $##.##)								{5.01}
	Contribution Margin Ratio (Round to four places,% is two of those places ##.##%)								{5.02}
2.	For 20x2 the selling price per lamp will be $45.00. The desired net income in 20x2 is $185,000 . What
	would sales in units have to be in 20x2 to reach the profit goal?
	sales
	variable cost
	contribution margin
	fixed cost
	net income
	Breakeven sales in units (Since we cannot sell part of a unit round up to the next unit if needed)								{5.03}
3.	For 20x2 the selling price per lamp will be $45.00. If the fixed cost increase by $30,000.00 how many lamps
	must be sold to breakeven?
	Breakeven sales in units (Since we cannot sell part of a unit round up to the next unit if needed)								{5.04}

4.	For 20x2 the selling price per lamp will be $45.00. If the variable cost increase by $3.00 a unit how many lamps
	must be sold to breakeven?
	Breakeven sales in units (Since we cannot sell part of a unit round up to the next unit if needed)							{6.01}
5.	For 20x2 the selling price per lamp will be $45.00. If the variable cost decreased by $3.00 a unit how many lamps
	must be sold to breakeven?
	Breakeven sales in units (Since we cannot sell part of a unit round up to the next unit if needed)							{6.02}
6.	If for 20x2 the selling price per lamp is increased to $48.00 a unit how many lamps must be sold
	to breakeven?
	Breakeven sales in units (Since we cannot sell part of a unit round up to the next unit if needed)							{6.03}
7.	If for 20x2 the selling price per lamp is decreased to $42.00 a unit how many lamps must be sold
	to breakeven?
	Breakeven sales in units (Since we cannot sell part of a unit round up to the next unit if needed)							{6.04}