I have been trying to find the correct answers for all of yellow cells for problem 11.01 - 11.14. The numbers in the yellow box's for those questions are wrong. I'm asking to help solve 11.01 - 11.14. Thank you.

32 33 5. Selling and Administrative Budget 34 35 6. Cost of Goods Sold Budget 36 41 7. Budgeted Income Statement 42 43 8. Cash Budget 44 45 Notes for Budgeting 50 51 52 The company wants to maintain the same number of units in the beginning and ending inventories of 53 work-in-process, and electrical parts while increasing the figurines inventory to 600 pieces and 54 increasing the finished goods by 25.00% 60 Complete the following budgets 61 62 1 Production Budget 63 Planned Sales 69 Desired Ending Inventory of Finished Goods (roundup to the next unit) 70 Total Needed Less: Beginning Inventory 72 77 Total Production 78 79 80 81 59 68 29000 3750 32750 3000 71 29,750 units {7.01) 86 87 88 89 90 1 ... 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 2 Materials Budget {8.01) (8.02) Figurines Needed for Production Desired Ending Inventory Total Needed Less: Beginning Inventory Total Purchases Cost per piece Cost of Purchases (Round to two places, $####) 29,750 units 600 units 30,350 units 500 units 29.850 units 9.568 285,604.80 {8.03) (8.04) (8.05) 4 5 6 7 8 9 10 16 17 18 19 20 26 27 28 29 30 36 37 38 39 40 46 47 48 49 50 56 {8.06) Electrical Parts Needed for Production Desired Ending Inventory Total Needed Less: Beginning Inventory Total Purchases Cost per piece Cost of Purchases (Round to two places, $##.##) 29750 500 30.250 units -500 29,750 units 1.31 38.675.00 $ (8.07) 17.108 Lamp Shades - not inventoried they arrive from the shop next door Just-in-time. Needed for Production Desired Ending Inventory Total Needed Less: Beginning Inventory Total Purchases -1 1 2 3 5 6 10 11 12 29750 0 29750 0 29750 19 20 4 7 8 9 13 14 15 16 17 18 21 22 2. 19 Clipboard Font G Alignment G Number N77 A B C D E F G 17.108 Lamp Shades - not inventoried they arrive from the shop next door Just-in-time. Needed for Production Desired Ending Inventory Total Needed Less: Beginning Inventory Total Purchases Cost per piece Cost of Purchases (Round to two places, S####) 29750 0 29750 0 29750 6.24 185,640.00 17.108 $ {8.08) 46 47 48 49 50 56 57 58 59 60 66 67 68 69 70 76 77 78 79 80 86 87 88 89 90 96 97 98 99 3 Direct Labor Budget Labor Cost Per Lamp Production Total Labor Cost (Round to two places, S####) 2.31751 29750 68.945.63 $ {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, S####) Fixed Factory Overhead 0.2385 29750 7,095.38 $260,000 $ {8.10) $ 267,095.38 {8.11} 100 Total Factory Overhead (Round to two places, S####) 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, S###***###) $ 8.97799600 {8.12) 101 102 103 | 1 | 2 3 | 4 5 | 6 | 7 8 9 | 10 11 12 | 13 14 15 16 | 17 | 18 | 19 20 5 Selling and Admin. Budget $ 4 5 6 7 8 9 10 11 18 19 Fixed Selling Variable Selling (Round to two places, $####) Fixed Administrative Variable Administrative (Round to two places, $##.##) Total Selling and Administrative (Round to two places, $####) 29,000.00 93177 $45,500.00 1486.25 $169,163.25 9.01) 6 Cost of Goods Sold Budget - Assume FIFO (First-In, First-Out) and overhead is applied based on the number of units to be produced. 20 21 22 29 30 31 32 33 40 Cost of making one unit next year Material cost per unit Labor Cost Per Lamp Factory overhead per unit Round dollars to seven places, $##.####### 17.108 2.3175 8.977996 $ 28.40349600 19.02) Total cost of one unit (Round to seven places, $##.#####) 41 42 43 44 51 Round dollars to two places $#### $ 86,775.00 19.03) $ 845,004.01 Beginning Inventory, Finished Goods Production Costs: Materials Figurines ... | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 2... LO A B D E F H 40 (Round to seven places, $###*****#) Round dollars to two places, $##.## $ 86,775.00 19.03) $ 845,004.01 $ $ 4600 285,604.80 290,204.80 5740.8 284,464.00 19.04) $ 41 42 43 44 51 52 53 54 55 62 63 64 65 66 73 74 75 76 77 84 85 86 87 88 95 96 97 98 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 $ 625 38,675.00 39300 650 38,650.00 19.05) $ $ $ $ $ 185,640.00 19.06) 508,754.00 19.07) 68,945.63 19.08) 267,095.38 19.09) $931,570 19.10) 106,513.11 9.11) 825,056.90 19.12) $ $ 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 | 16 17 18 19 20 21 22 2 + HO 24 8 Cash Budget 32 33 34 35 Assume actual cash receipts and disbursements will follow the pattern below: (Note: Receivables and 36 Payables of 12/31/x1 will have a cash impact in 20x2.) 44 45 1. 15.00% of sales for the year are made in November and December. Since our customers have 60 day terms those funds will be collected be collected in January and February 47 2. 84.00% of material purchases will be paid during the year, the remaining portion will be paid in Januay or February 48 3. All other manufacturing and operating costs are paid for when incurred. 56 4. The budgeted depreciation expense is equal to 0.6% of the fixed manufacturing, selling and administrative expenses. 57 5. Minimum Cash Balance needed for 20x2, $190,000 I See The Light 59 Projected Cash Budget 60 For the Year Ending December 31, 20x2 46 58 Round dollars to two places, St### 34710 Beginning Cash Balance Cash Inflows: Sales Collections Account Receivable (Sales last year not collected) Sales made and collected in 20x2 Cash Available 1334000 68 69 70 71 72 80 81 82 83 84 92 93 0.85 $ 67,500.00 (10.02) $ 1,133,900.00 110.031 $ 1,236,110.00 (10.04) Cash Outflows: Purchases Accounts Payable (Purchases last year) Material purchases made and paid for in 20x2 | 1 2 5 6 7 8 $ $ 11 509,919.80 12 13 0.84 15 54000 428,332.63 (10.06) 19 20 21 22 3 4 9 10 14 16 17 18 2... 19 Round dollars to two places, $#### 34710 Beginning Cash Balance Cash Inflows: Sales Collections: Account Receivable (Sales last year not collected) Sales made and collected in 20x2 Cash Available 1334000 0.85 $ $ $ 67,500.00 (10.02) 1,133,900.00 (1003) 1,236,110.00 (10.04) $ 509,919.80 0.84 $ 68 69 70 71 72 80 81 82 83 84 92 93 94 95 96 104 105 106 107 108 116 117 118 119 120 121 122 123 Cash Outflows: Purchases Accounts Payable (Purchases last year) Material purchases made and paid for in 20x2 Other Manufacturing Costs Direct Labor Total Manufacturing Overhead Selling and Administrative Less: Depreciation Total Cash Outflows $ $ 54000 428,332.63 (10.06) 267,095.38 68,945.63 818,373.64 $169, 163.25 2,007.00 110.06) 985,529.89 (10.07) $260,000 $45,500.00 $ $ $ Budgeted Cash Balance before financing Needed Minimum Balance 250,580.11 10.08) 190000 Amount to be borrowed (if any) $ {10.09) Budgeted Cash Balance $ 250,580.11 10.10) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 2 LO A B 4 5 6 7 8 9 9 Variable Cost of making one unit next year - used to calculate the Ending Inventory of Finished Goods Material cost per unit Labor Cost Per Lamp Variable Factory overhead per unit Total variable manufacturing cost of one unit 20x2 Cost Rounded to 7 Decimal Places 17.10800000 2.31750000 0.23850000 10 $ 27.20400000 (11.01} 11 12 13 20x2 Cost Rounded to 2 Decimal Places 22 10 Budgeted Operating Income Using Variable (Direct) Costing Sales $ 46.00 29000 $ 1,334,000.00 $ 56,775.00 (11.02) 23 24 25 26 35 36 37 38 39 48 49 50 51 52 61 62 Variable Cost of Goods Sold - Assume FIFO (First-In, First-Out) Beginning Inventory, Finished Goods (Variable Costing) Production Costs: Materials: Figurines Electrical Parts Lamp Shades Labor Variable Overhead: Total Variable Production Costs Cost of Goods Available For Sale Less: Ending Inventory, Finished Goods (Variable Costing) Variable Cost of Goods Sold | 112 | 3 | 4 | 5 | 6 | 7 | 8 9 | 10 12 $ $ $ $ $ $ $ $ $ 284,464.00 38,650.00 185,640.00 68,945.63 7,095.38 584,795.01 (11.03} 641,570.01 102,015.00 (11.04) 539,555.01 22 9 11 13 14 15 16 17 18 19 20 21 2.. EO AutoSum Arial AA == 10 25 Wrap Text General Fill Paste Copy X Cut [ b Format Painter Clipboard Insert Delete Format BIU A Merge & Center 88-98 $ % Clear Conditional Format as Cell Formatting Table Styles Styles An D Sort & Find & Filter Select Editing Font Alignment Number Cells An H62 fx =H52-H61 D E F G J KL M B Electrical Parts Lamp Shades: Labor Variable Overhead Total Variable Production Costs Cost of Goods Available For Sale Less: Ending Inventory, Finished Goods (Variable Costing) Variable Cost of Goods Sold Variable Selling (Round to two places, $##.#*) Variable Administrative (Round to two places, $####) Total Variable Costs Contribution Margin Fixed Costs Fixed Manufacturing Overhead Fixed Selling Fixed Administrative Total Fixed Operating Income, Variable Costing $ $ $ IS $ $ $ $ $ $ $ $ H 1 38,650.00 185,640.00 68,945.63 7,095.38 584,795.01 | 11.03) 641,570.01 102,015.00 (11.04) 539,555.01 93,177.00 (11.05) 1,486.25 (11.06) 634,218 26 699,781.74 (11.07) 39 48 49 50 51 52 61 62 63 64 65 74 75 76 77 78 87 88 89 90 91 100 101 102 103 104 113 114 115 116 117 $ $260,000 29,000.00 $45,500.00 334,500.0011.08 365,281.74 (11.09) $ $ Operating Income, Absorption Operating Income, Variable Costing Excess (Absorption Costing Operating Income - Variable Costing Operating Income) $ $ 365,281.74 6,554.62 (11.10) Budgeted Fixed Overhead Budgeted Number of Units to be Produced Budgeted Fixed Cost Per Unit (Round to 7 decimals #.#*****#) $260,000 29.750.00 8.74 (11.11) $ Fixed Manufacturing Overhead in the Ending Inventory $ 32,773.11 (11.12) Fixed Manufacturing Overhead in the Beginning Inventory $ 26,218.49 11.13) Increase (Fixed Manufacturing Overhead in the Ending Inventory-Fixed Manufacturing Overhead in the Beginning Inventory) $ 6,554.62 (11.14) ... 1 2 3 4 5 6 7 8 9 10 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 2.... 32 33 5. Selling and Administrative Budget 34 35 6. Cost of Goods Sold Budget 36 41 7. Budgeted Income Statement 42 43 8. Cash Budget 44 45 Notes for Budgeting 50 51 52 The company wants to maintain the same number of units in the beginning and ending inventories of 53 work-in-process, and electrical parts while increasing the figurines inventory to 600 pieces and 54 increasing the finished goods by 25.00% 60 Complete the following budgets 61 62 1 Production Budget 63 Planned Sales 69 Desired Ending Inventory of Finished Goods (roundup to the next unit) 70 Total Needed Less: Beginning Inventory 72 77 Total Production 78 79 80 81 59 68 29000 3750 32750 3000 71 29,750 units {7.01) 86 87 88 89 90 1 ... 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 2 Materials Budget {8.01) (8.02) Figurines Needed for Production Desired Ending Inventory Total Needed Less: Beginning Inventory Total Purchases Cost per piece Cost of Purchases (Round to two places, $####) 29,750 units 600 units 30,350 units 500 units 29.850 units 9.568 285,604.80 {8.03) (8.04) (8.05) 4 5 6 7 8 9 10 16 17 18 19 20 26 27 28 29 30 36 37 38 39 40 46 47 48 49 50 56 {8.06) Electrical Parts Needed for Production Desired Ending Inventory Total Needed Less: Beginning Inventory Total Purchases Cost per piece Cost of Purchases (Round to two places, $##.##) 29750 500 30.250 units -500 29,750 units 1.31 38.675.00 $ (8.07) 17.108 Lamp Shades - not inventoried they arrive from the shop next door Just-in-time. Needed for Production Desired Ending Inventory Total Needed Less: Beginning Inventory Total Purchases -1 1 2 3 5 6 10 11 12 29750 0 29750 0 29750 19 20 4 7 8 9 13 14 15 16 17 18 21 22 2. 19 Clipboard Font G Alignment G Number N77 A B C D E F G 17.108 Lamp Shades - not inventoried they arrive from the shop next door Just-in-time. Needed for Production Desired Ending Inventory Total Needed Less: Beginning Inventory Total Purchases Cost per piece Cost of Purchases (Round to two places, S####) 29750 0 29750 0 29750 6.24 185,640.00 17.108 $ {8.08) 46 47 48 49 50 56 57 58 59 60 66 67 68 69 70 76 77 78 79 80 86 87 88 89 90 96 97 98 99 3 Direct Labor Budget Labor Cost Per Lamp Production Total Labor Cost (Round to two places, S####) 2.31751 29750 68.945.63 $ {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, S####) Fixed Factory Overhead 0.2385 29750 7,095.38 $260,000 $ {8.10) $ 267,095.38 {8.11} 100 Total Factory Overhead (Round to two places, S####) 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, S###***###) $ 8.97799600 {8.12) 101 102 103 | 1 | 2 3 | 4 5 | 6 | 7 8 9 | 10 11 12 | 13 14 15 16 | 17 | 18 | 19 20 5 Selling and Admin. Budget $ 4 5 6 7 8 9 10 11 18 19 Fixed Selling Variable Selling (Round to two places, $####) Fixed Administrative Variable Administrative (Round to two places, $##.##) Total Selling and Administrative (Round to two places, $####) 29,000.00 93177 $45,500.00 1486.25 $169,163.25 9.01) 6 Cost of Goods Sold Budget - Assume FIFO (First-In, First-Out) and overhead is applied based on the number of units to be produced. 20 21 22 29 30 31 32 33 40 Cost of making one unit next year Material cost per unit Labor Cost Per Lamp Factory overhead per unit Round dollars to seven places, $##.####### 17.108 2.3175 8.977996 $ 28.40349600 19.02) Total cost of one unit (Round to seven places, $##.#####) 41 42 43 44 51 Round dollars to two places $#### $ 86,775.00 19.03) $ 845,004.01 Beginning Inventory, Finished Goods Production Costs: Materials Figurines ... | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 2... LO A B D E F H 40 (Round to seven places, $###*****#) Round dollars to two places, $##.## $ 86,775.00 19.03) $ 845,004.01 $ $ 4600 285,604.80 290,204.80 5740.8 284,464.00 19.04) $ 41 42 43 44 51 52 53 54 55 62 63 64 65 66 73 74 75 76 77 84 85 86 87 88 95 96 97 98 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 $ 625 38,675.00 39300 650 38,650.00 19.05) $ $ $ $ $ 185,640.00 19.06) 508,754.00 19.07) 68,945.63 19.08) 267,095.38 19.09) $931,570 19.10) 106,513.11 9.11) 825,056.90 19.12) $ $ 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 | 16 17 18 19 20 21 22 2 + HO 24 8 Cash Budget 32 33 34 35 Assume actual cash receipts and disbursements will follow the pattern below: (Note: Receivables and 36 Payables of 12/31/x1 will have a cash impact in 20x2.) 44 45 1. 15.00% of sales for the year are made in November and December. Since our customers have 60 day terms those funds will be collected be collected in January and February 47 2. 84.00% of material purchases will be paid during the year, the remaining portion will be paid in Januay or February 48 3. All other manufacturing and operating costs are paid for when incurred. 56 4. The budgeted depreciation expense is equal to 0.6% of the fixed manufacturing, selling and administrative expenses. 57 5. Minimum Cash Balance needed for 20x2, $190,000 I See The Light 59 Projected Cash Budget 60 For the Year Ending December 31, 20x2 46 58 Round dollars to two places, St### 34710 Beginning Cash Balance Cash Inflows: Sales Collections Account Receivable (Sales last year not collected) Sales made and collected in 20x2 Cash Available 1334000 68 69 70 71 72 80 81 82 83 84 92 93 0.85 $ 67,500.00 (10.02) $ 1,133,900.00 110.031 $ 1,236,110.00 (10.04) Cash Outflows: Purchases Accounts Payable (Purchases last year) Material purchases made and paid for in 20x2 | 1 2 5 6 7 8 $ $ 11 509,919.80 12 13 0.84 15 54000 428,332.63 (10.06) 19 20 21 22 3 4 9 10 14 16 17 18 2... 19 Round dollars to two places, $#### 34710 Beginning Cash Balance Cash Inflows: Sales Collections: Account Receivable (Sales last year not collected) Sales made and collected in 20x2 Cash Available 1334000 0.85 $ $ $ 67,500.00 (10.02) 1,133,900.00 (1003) 1,236,110.00 (10.04) $ 509,919.80 0.84 $ 68 69 70 71 72 80 81 82 83 84 92 93 94 95 96 104 105 106 107 108 116 117 118 119 120 121 122 123 Cash Outflows: Purchases Accounts Payable (Purchases last year) Material purchases made and paid for in 20x2 Other Manufacturing Costs Direct Labor Total Manufacturing Overhead Selling and Administrative Less: Depreciation Total Cash Outflows $ $ 54000 428,332.63 (10.06) 267,095.38 68,945.63 818,373.64 $169, 163.25 2,007.00 110.06) 985,529.89 (10.07) $260,000 $45,500.00 $ $ $ Budgeted Cash Balance before financing Needed Minimum Balance 250,580.11 10.08) 190000 Amount to be borrowed (if any) $ {10.09) Budgeted Cash Balance $ 250,580.11 10.10) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 2 LO A B 4 5 6 7 8 9 9 Variable Cost of making one unit next year - used to calculate the Ending Inventory of Finished Goods Material cost per unit Labor Cost Per Lamp Variable Factory overhead per unit Total variable manufacturing cost of one unit 20x2 Cost Rounded to 7 Decimal Places 17.10800000 2.31750000 0.23850000 10 $ 27.20400000 (11.01} 11 12 13 20x2 Cost Rounded to 2 Decimal Places 22 10 Budgeted Operating Income Using Variable (Direct) Costing Sales $ 46.00 29000 $ 1,334,000.00 $ 56,775.00 (11.02) 23 24 25 26 35 36 37 38 39 48 49 50 51 52 61 62 Variable Cost of Goods Sold - Assume FIFO (First-In, First-Out) Beginning Inventory, Finished Goods (Variable Costing) Production Costs: Materials: Figurines Electrical Parts Lamp Shades Labor Variable Overhead: Total Variable Production Costs Cost of Goods Available For Sale Less: Ending Inventory, Finished Goods (Variable Costing) Variable Cost of Goods Sold | 112 | 3 | 4 | 5 | 6 | 7 | 8 9 | 10 12 $ $ $ $ $ $ $ $ $ 284,464.00 38,650.00 185,640.00 68,945.63 7,095.38 584,795.01 (11.03} 641,570.01 102,015.00 (11.04) 539,555.01 22 9 11 13 14 15 16 17 18 19 20 21 2.. EO AutoSum Arial AA == 10 25 Wrap Text General Fill Paste Copy X Cut [ b Format Painter Clipboard Insert Delete Format BIU A Merge & Center 88-98 $ % Clear Conditional Format as Cell Formatting Table Styles Styles An D Sort & Find & Filter Select Editing Font Alignment Number Cells An H62 fx =H52-H61 D E F G J KL M B Electrical Parts Lamp Shades: Labor Variable Overhead Total Variable Production Costs Cost of Goods Available For Sale Less: Ending Inventory, Finished Goods (Variable Costing) Variable Cost of Goods Sold Variable Selling (Round to two places, $##.#*) Variable Administrative (Round to two places, $####) Total Variable Costs Contribution Margin Fixed Costs Fixed Manufacturing Overhead Fixed Selling Fixed Administrative Total Fixed Operating Income, Variable Costing $ $ $ IS $ $ $ $ $ $ $ $ H 1 38,650.00 185,640.00 68,945.63 7,095.38 584,795.01 | 11.03) 641,570.01 102,015.00 (11.04) 539,555.01 93,177.00 (11.05) 1,486.25 (11.06) 634,218 26 699,781.74 (11.07) 39 48 49 50 51 52 61 62 63 64 65 74 75 76 77 78 87 88 89 90 91 100 101 102 103 104 113 114 115 116 117 $ $260,000 29,000.00 $45,500.00 334,500.0011.08 365,281.74 (11.09) $ $ Operating Income, Absorption Operating Income, Variable Costing Excess (Absorption Costing Operating Income - Variable Costing Operating Income) $ $ 365,281.74 6,554.62 (11.10) Budgeted Fixed Overhead Budgeted Number of Units to be Produced Budgeted Fixed Cost Per Unit (Round to 7 decimals #.#*****#) $260,000 29.750.00 8.74 (11.11) $ Fixed Manufacturing Overhead in the Ending Inventory $ 32,773.11 (11.12) Fixed Manufacturing Overhead in the Beginning Inventory $ 26,218.49 11.13) Increase (Fixed Manufacturing Overhead in the Ending Inventory-Fixed Manufacturing Overhead in the Beginning Inventory) $ 6,554.62 (11.14) ... 1 2 3 4 5 6 7 8 9 10 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 2