Hello Can i have help answering the last worksheet. The one with the blank yellow spaces. I've attached everything needed for it. Please help
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I See The Light Projected Income Statement For the Period Ending December 31. 20z1 I See The Light Projected Balance Sheet As of December 31, 201 Current Assets Cash Accounts Receivable Inventory Raw Mlaterial 34,710.0067,500.004,600.00625.0086,775.00$194,210.00 Current Liabilities Acoounts Payable Total Liabilities $54,000.00$54,000.00 Stookholder's Equity Common Stook Retained Earnings Total Stockholder's Equity Total Liabilities and Stockholder's Equity 153,410.00$207,410.00 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 2.00%. 4. Fixed Overhead is expected to increase to $260,000. 5. Fixed selling expenses are expected to be $35,000 in 202. 6. Variable selling expenses (measured on a per lamp basis) are expected to increase by 3.00% 7. Fixed Administrative expenses are expected to increase by $6,000. The total administrative expenses for 200 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 6.50%. 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. On the 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. I See The Light, Inc Schedule of Projected Costs Projected Variable Manufacturing Cost Per Unit 14.01} 14.02} 14.03} 14.04} 14.05} 4.06} Tord tariabe Casterlert Variable Selling 14.07} Variable Administrative 2001 14.08 Variable Administrative 202 14.09} Projected Variable Manufacturing Unit Cost 14.06} Projected Total Variable Cost Per Unit 4.10} Sohedte a Fined Gasts Fined Querhead 4.11} (normal capacity of lamps@_) Fined Selling 14.12} Fined Administrative 20:1 14.13+ Fined Administrative 20k2 Projected Total Fined Costs 4.14} 4.15} Division N has decided to develop its budget based upon projected sales of 29,000 lamps at 548.00 per lamp. The company has requested that you prepare a master budget for the year. This budget is to be used or 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 675 pieces and ncreasing the finished goods by 23.00%. Lamog spages - nat inventaried they arrive fram theshap next dar Jurt-in-time. Needed for Production Desired Ending lnventory Total Needed Less: Beginning Inventory Total Purchases Cost per piece Cost of Purchases (Round to two places, $##.## ) 3 Theolatar Ewgor Labor Cost Per Lamp Production Total Labor Cost [Round to two places, $##### ) Wariable Factory Querhead: Variable Factory Querhead Cost Per Unit Number of Units to be Produced Total Variable Factory Querhead (Round to two places, $##.\#\#) Fined Factory Duerhead Total Factory Querhead (Round to two places, $###.## ) Predetermined Factory Querhead Rate based upon the budgeted total factory H, divided by the budgeted number of units to be produced, and then rounded to seven places, $##.\#\#\#\#\#\#\#] Cost of Goods Sold Budqet - Assume FIFO (First-In, First-Out) and overhead is applied based on the number of units to be produced. I See The Light Projected Income Statement For the Period Ending December 31. 20z1 I See The Light Projected Balance Sheet As of December 31, 201 Current Assets Cash Accounts Receivable Inventory Raw Mlaterial 34,710.0067,500.004,600.00625.0086,775.00$194,210.00 Current Liabilities Acoounts Payable Total Liabilities $54,000.00$54,000.00 Stookholder's Equity Common Stook Retained Earnings Total Stockholder's Equity Total Liabilities and Stockholder's Equity 153,410.00$207,410.00 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 2.00%. 4. Fixed Overhead is expected to increase to $260,000. 5. Fixed selling expenses are expected to be $35,000 in 202. 6. Variable selling expenses (measured on a per lamp basis) are expected to increase by 3.00% 7. Fixed Administrative expenses are expected to increase by $6,000. The total administrative expenses for 200 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 6.50%. 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. On the 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. I See The Light, Inc Schedule of Projected Costs Projected Variable Manufacturing Cost Per Unit 14.01} 14.02} 14.03} 14.04} 14.05} 4.06} Tord tariabe Casterlert Variable Selling 14.07} Variable Administrative 2001 14.08 Variable Administrative 202 14.09} Projected Variable Manufacturing Unit Cost 14.06} Projected Total Variable Cost Per Unit 4.10} Sohedte a Fined Gasts Fined Querhead 4.11} (normal capacity of lamps@_) Fined Selling 14.12} Fined Administrative 20:1 14.13+ Fined Administrative 20k2 Projected Total Fined Costs 4.14} 4.15} Division N has decided to develop its budget based upon projected sales of 29,000 lamps at 548.00 per lamp. The company has requested that you prepare a master budget for the year. This budget is to be used or 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 675 pieces and ncreasing the finished goods by 23.00%. Lamog spages - nat inventaried they arrive fram theshap next dar Jurt-in-time. Needed for Production Desired Ending lnventory Total Needed Less: Beginning Inventory Total Purchases Cost per piece Cost of Purchases (Round to two places, $##.## ) 3 Theolatar Ewgor Labor Cost Per Lamp Production Total Labor Cost [Round to two places, $##### ) Wariable Factory Querhead: Variable Factory Querhead Cost Per Unit Number of Units to be Produced Total Variable Factory Querhead (Round to two places, $##.\#\#) Fined Factory Duerhead Total Factory Querhead (Round to two places, $###.## ) Predetermined Factory Querhead Rate based upon the budgeted total factory H, divided by the budgeted number of units to be produced, and then rounded to seven places, $##.\#\#\#\#\#\#\#] Cost of Goods Sold Budqet - Assume FIFO (First-In, First-Out) and overhead is applied based on the number of units to be produced
