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13 MALT Buckauked Income Statement 15 16 Sales 24 Cost of Goods Sold 25 Gross Profit 26 Selling Expensen & Admin Expenses 27 Net Income s 4,070,694.00 10.01) 28 36 37 38 39 Caski Austadt 48 Las Assunt actual cash recipes and distintaments will follow the pattern balow (Nota Rasuvables and so Payables al 12/31/xt will have a cash impact in 2022|| 51 AZ 2000, se pot zains for this you are made in November and December Sinca aur customers hire Go day forma 60 those funds will be collected be collected in January and February 6 12 19 00 % al material parchases will be paid during the year, the remaining portion will be paid ini baruay or Fabruary 62 3. All other manufacturing and operating costs are paid for when incurred 13 14 the budgeted depreciation expense la actual te le fas at the ticed manufacturing, walking and administrative axpenses Ets Minimum Cash Balance needed for 2012, 1165,000 72 See The Light ta Projected Cash Budget For the Year Ending December 31, 20x2 H Projected Cash Budget For the Year Ending December 31, 20x2 3 75 Round dollar to two places, S. 32 B4 86 37 Beginning Cash Balance Cash Intlows Sales Collections Account Receivable (Sales last year not collected) Sales made and collected in 20x2 Cash Available $ 5 5 67,500.00 10.02) 1350,200.00 (1003) 1,502,700.00 (1004) $ 5930354.00 10:05) 98 199 100 108 109 110 111 112 113 Cash Outflows Purchases Accounts Payable (Purchases last year) Purchases made and paid for in 20x2 Other Manufacturing Coats Direct Labor Total Manufactuning Overhead Selling and Administrative Less: Depreciation Total Cash Outflows 5 5 214200 006) ZA170,684.00 10.07 115 115 Budgeted Cash Balance before financing Needed Minimum Balance 5 7,850,016,00 10.08) 118 Amount to be borrowed (if any S (1009) Budgeted Cash Balance S ZU50,016 00 01010) 120 121 122 B D F H 14 The projected cost of a lamp is calculated based upon the projected increases or decreases to 15 current costs. The present costs to manufacture one lamp are: 16 17 Lamp Kit: $16.0000000 per lamp 26 Direct Labor 2.0000000 per lamp (4 lamps/hr.) 27 Variable Overhead: 2.0000000 per lamp 28 Fixed Overhead 10.0000000 per lamp (based on normal capacity of 25,000 lamps) 29 36 Cost per lamp $30.0000000 per lamp 37 38 Expected increases for 20x2 39 When calculating projected increases round to TWO ($0.00) decimal places. 40 47 1. Material Costs are expected to increase by 6.50% 48 49 2. Labor Costs are expected to increase by 3.00%. 50 51 3. Variable Overhead is expected to increase by 3 50% 58 59 4. Fixed Overhead is expected to increase to $260,000 60 61 5. Fixed Administrative expenses are expected to increase to $58,000 62 69 6. Variable selling expenses (measured on a per lamp basis) are expected to increase 70 by 2.00% 71 72 7. Fixed selling expenses are expected to be $39,000 in 20x2 73 80 8. Variable administrative expenses (measured a per lamp basis) are expected to 81 increase by 5.00% 82 83 On the following schedule develop the following figures: 1 See The Light Projected Balance Sheet As of December 31, 20x1 34,710.00 67,500.00 Current Assets Cash Accounts Receivable Inventory Raw Material Lamp Kits Work in Process Finished Goods Total Current Assets 8,000.00 500 @ $16.00 0 3000 @ $30.00 90,000.00 $ 200,210.00 Fixed Assets Equipment Accumulated Depreciation Total Fixed Assets Total Assets $ 20,000.00 6,800.00 13,200.00 $ 213,410.00 $ $ 54,000.00 54,000.00 Current Liabilities Accounts Payable Total Liabilities Stockholder's Equity Common Stock Retained Earnings Total Stockholder's Equity Total Liabilities and Stockholder's Equity $ 12,000.00 147,410.00 159.410.00 $ 213.410.00 I See The Light Projected Income Statement For the Period Ending December 31, 20x1 $ 1,125,000.00 750,000.00 $ 375,000.00 Sales 25,000 lamps @ $45.00 Cost of Goods Sold @ $30.00 Gross Profit Selling Expenses Fixed Variable (Commission per unit) @ $3.00 Administrative Expenses Fixed Variable @ 52.00 Total Selling and Administrative Expenses: Net Profit 523,000.00 75,000,00 5 98,000.00 $42,000.00 50,000.00 92.000.00 190,000.00 $ 185,000.00