I need help getting 9.11 and 9.12 and also 10.1, 10.5-10.10
l See The Light Projected Balance Sheet As of December 31, 20x1 Current Assets Cash Accounts Receivable Inventory $34,710.00 67,500.00 Raw Material 500 a $9.20 500 $1.25 4,600.00 625.00 Figurines Electrical Sets Work in Process 3000 a $28.9250 Finished Goods Total Current Assets 86,775.00 $ 194,210.00 Fixed Assets Equipment Accumulated Depreciation Total Fixed Assets $ 20,000.00 6,800.00 13,200.00 $ 207,410.00 Total Assets l See The Light Projected Balance Sheet As of December 31, 20x1 Current Assets Cash Accounts Receivable Inventory S 34,710.00 67,500.00 Raw Material 500 @ S9.20 500 S1.25 Figurines 4,600.00 625.00 Electrical Sets Work in Process Finished Goods Total Current Assets 86,775.00 $ 194,210.00 3000 @ $28.9250 Fixed Assets Equipment Accumulated Depreciation Total Fixed Assets S 20,000.00 6.800.00 13,200.00 $ 207,410.00 Total Assets Current Liabilities Accounts Payable Total Liabilities $ 54,000.00 $ 54,000.00 Stockholder's Equity Common Stock Retained Earnings $ 12,000.00 141,410.00 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 Figurines Electrical Sets Lamp Shade Direct Labor: Variable Overhead: Fiked Overhead: $9.2000000 per lamp 1.2500000 per lamp 6.0000000 per lamp 2.2500000 per lamp (4 lampslhr.) 0.2250000 per lamp 10.0000000 per lamp (based on normal capacity of 25,000 lamps) Cost per lamp: $28.9250000 per lam Expected increases for 202 When calculating projected increases round to SEVEN decimal places,$0.0000000 1. Material Costs are expected to increase by 3.00% 2. Labor Costs are expected to increase by 4.50%. 3. Variable Overhead is expected to increase by 4.00%. 4. Fixed Overhead is expected to increase to $275,000 5. Fied selling expenses are epected to be $29,000 in 20H2. 6. Variable selling expenses [measured on a per lamp basis) are expected to increase by 2.50%. 7. Fixed Administrative epenses are expected to increase by $16,000 trative expenses for 20 0 were $40,320.00, whern 23,000 units were sold. Use the High-Low method to calculate the total fied administrative expense 8. Variable administrative expenses (measured on a per lamp basis) are expected to increase by 6.00%. The total administrative expenses for 2080 were $40,320.00, when 23,000 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- 20H2 Projected Variable Manufacturing Unit Cost of a lamp. 2- 20H2 Projected Variable Unit Cost per lamp 3- 20H2 Projected Fised Costs. 20 1Cost Projected Percent 20H2 Cost Rounded to 7 Decimal Places Figurines Electrical Sets Lamp Shade Labor Variable Overhead $9.2000000 3% $9.48 14.01 $1.287500014.02 $6.180000014.03 $235125004.04 $0.2340000 4.05 Projected Variable Manufacturing Cost Per Unit 18.925 $19.5287500 4.06 20k1Cost Projected Percent ected20H2 Cost Rounded to 7 Decimal Places 3.15 0.0400000 2.5 Variable Selling Variable Administrative 20H1 Variable Administrative 20H2 3.22875004.07 0.04241 14.081 0.0424000 14.09H Projected Variable Manufacturing Unit Cost Projected Total Variable Cost Per Unit 3.2711514.06 22. 7999000] 14.101 22.1150000 Projected Increase 20 1Cost 20H2Cost Rounded to 2 Decimal Place:s 275,000.001 14.11 29,000.00 14.12 56,000.004.14 Fiked Overhead lamps @ ) (normal capacity of Fied Selling Fiked Administrative 20h1 Fised Administrative 20H2 Projected Total Fixed Costs 40,000.00 4.13 360,000,00 4.15 Keapnmwhathe bwatectonbimson ohm hepspanswheiarlas asemaontabs 4l shoush xwpv? prwshumedansers. Division Nhas decided to develop its budget based upon projected sales of 39,000lamps at $47.00 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 Oerhead 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 600 pieces and increasing the finished goods by 24.00% Complete the following budgets Planned Sales Desired Ending Inventory of Finished Goods (roundup to the neHt unit) Total Needed Less: Beginning Inventory 39000 3720 42720 3000 Total Production 39,720 unit 7.01 Figwines Needed for Production Desired Ending Inventory Total Needed 8.01 18.02 Less: Beginning Inventory Total Purchass 18.03 18.04 00 u Cost per piece Cost of Purchases [Round to two places, $####) 18.05} Electrica/ Parts Needed for Production Desired Ending Inventory Total Needed 18.06 Less: Beginning Inventory Total Purchases 500 Cost per piece Cost of Purchases Round to two places, $### Needed for Production Desired Ending Inventory Total Needed Less: Beginning Inventory Total Purchases Cost per piece Cost of Purchases [Round to two places, $#### 18.08 Lbor Cost Per Lamp Production Total Labor Cost(Round to two Places,### 18.03 Variable Factory Oerhead 0.234 Variable Factory Oerhead Cost Per Unit Number of Units to be Produced 8.10 Total Variable Factory Overhead Round to two places, $#### Fixed Factory Overhead Total Factory Overhead Round to two Places, $#### 284.294.48 18.11 Predetermined Factory Oerhead Rate based upo the budgeted total factory OH, divided by the budgeted number of units to be produced, and then rounded to seven places, $######### 18.12 Fiked Selling Variable Selling (Round to two places, $#### Fiked Administrative Variable Administrative (Round to two places, $#### Total Selling and Administrative (Round to two places, $####) 29000 125921.25 56000 1653.6 39000 0.0424 39000 6 Cost of Goods Sold Budget Aesume FIFO (First-in, First-Ou) and overhead is applied based on the number af units to be produced Round dollars to seven places Matenalzot, Labor Cost Per Lamp Factory overhead per unit a^% 16.9435 7.1574642 Total cost of one unit Round to s $ 26.45221420 19.02 Round dollars to two places Beginning Inventory, Finished Goods Production Costs: $86,775.00 19.03 Materials: Figurines: Beginning Inventory Purchased Available for Use Endinglnventory of Figurines Figurine 4600 377334.32 381934.32 5685.6 s Used In Production $376,248.72 19.04 Electrical Parts Beginning Inventory Purchased Available for Use Ending Inventory of Electrical Parts Electrical Parts Used In Production 625 51139.5 51764.5 643.75 $51,120.75 19.05 Lamp Shades: Lamp Shades Used In Production Total Materials: Labor Overhead $245,469.60 19.06 $672,839.07 19.07 $93,391.65 19.08 $284,294.48 19.09 Cost of Goods Available 1,137.300.20 (9.101 9.11 9.12 Less: Ending Inventory, Finished Goods Cost of Goods Sold Sales Cost of Goods Sold Gross Profit Selling Expenes& Admin. Expenses Net Operoting Income 10.01 Assume actual cash receipts and disbursements will follow the Pattern below: (Note: Receivables and Payables of 12/312x1 will have cash impact in 20x2.) I. 24.00% 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 Januory and Febrary. 2. 82.00% of material purchases will be paid during the year, the remaining portion will be paid in Januay or February. 3. All other manufacturing and operating costs are paid for when incurred. 4. The budgeted depreciation expense is equal to 0.6% of the fixed manufacturing, selling and administrative expenses. 5. Minimum Cah Balance needed for 20x2, $170,000 I See The Light Projected Cash Badget For the Tear Ending Dece ber 31. 2012 Round dollars to two places, Beginning Coh Balnce Cash Inflows Sales Collections: Account Receivoble (Sales last year not collected) Sales made and collected in 20x2 Cash Available 435,290.00 tt#tt Cosh Outflows: Purchases Accounts Payable (Purchases bst year) Material purchaes made and paid for in 20x2 10.05 Other Direct Labor Total Manufacturing Oerhead Seling ad Administrative Less: Depreciation Total Cash Outflows 10.07t Budgcted Cosh Balance before financing Needed Minimum Balance Amount to be borrowed (if any) Budgcted Cosh Balance 10.10
