i need help with 15.01 15.03 15.04

25 11 74 Special order lamps are manufactured in division 8. Because of the precise nature of the procesa 15 standard cont system has been developed. The following standards are used for the special orders: 16 17 18 21 Standards 22 Lamp Kits $16.000000 per lamp 23 Direct Labor 2.400000 per lamp (4 lamps/hr) 24 Vanable Overhead 0.250000 per lamp (4 lamps/hr.) Foxed Overhead 10.000000 per lamp 28 Total $28.650000 29 30 ** Fixed overhead is based on expected production of 4,015 customized lamps each month. 31 32. To keep records of the actual cost of a job, a Job Order Cost System has been developed. Entries 35 are made to the Job Order System at actual cost (overhead is applied based on actual labor hours) 36 while entries are made to the accounting system at standard. Variance analysis is used to analyze the 37 differences 38 + 39 42 43 Job Order Costing Section 44 45 on January 1, 20x2. Division 8 began Job 1101 for the client, THE BIG CHILDREN STORE. The 46 job caled for 4,000 customized lamps. The following set of transactions occurred from 49 January 5 until the job was completed: 50 50 52 5-Jan Purchased 4,150 Lamp Kits @ $16.70 per kit. 53 9 Jan 4,125 sets of Lamp Kits were requisitioned 56 17-Jan Payrol of 630 Direct Labor Hours @ $9.70 per hour. 57 30 Jan Payrol of 680 Direct Labor Hours @ $9.95 per hour 58 30-Jan 3,985 lamps were completed and shipped. All materials requisitioned were 59 used or scrapped 69 63 04 55 36 37 Month End Overhead Information Actual Variable Overhead Actual Fixed Overhead 71 72 $ 1,545.80 $ 41.123.45 6 7 How many Lamps were completed? 8 9 Note: Show favorable variances as negative numbers 10 Round dolars to two places S#### (15.01) 11 12 16 17 What was the total material price variance for the Lamp Kits purchased? 18 19 20 2 What was the material usage variance for Lamp Kits? 25 28 27 28 12 3 4 What was the direct labor efficiency variance? 5 2,240.00 (15.02) (15.03) O 1 What was the direct labor rate variance? {15.04) 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 Direct Labor Variable Overhead: Fored Overhead: $16.0000000 per lamp 2.0000000 per lamp (4 lamps/hr.) 2.0000000 per lamp 10.0000000 per lamp (based on normal capacity of 25,000 lamps) Cost pet 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 5.50%. 2. Labor Costs are expected to increase by 6.00%. 3. Variable Overhead is expected to increase by 5.00%. 4. Fixed Overhead is expected to increase to $285,000. 5. Fixed Administrative expenses are expected to increase to $62,000. 6. Variable seling expenses (measured on a per lamp basis) are expected to increase by 4.50%. 7. Fixed selling expenses are expected to be $35,000 in 20x2. 8. Variable administrative expenses (measured a per lamp basis) are expected to increase by 6.00% On the following schedule develop the following figures: 1- 20x2 Projected Variable Manufacturing Unit Cost of a lamp 2- 20x2 Projected Vanable Unit Cost per lamp 3- 20x2 Projected Fixed Costs 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 1 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 @ $2.00 Total Selling and Administrative Expenses: Net Profit $ 23,000.00 75,000.00 $ 98,000.00 $ 42,000.00 50,000.00 92,000.00 190,000.00 185,000.00 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 500 $16.00 8,000.00 3000 $30.00 90,000.00 $ 200.210.00 Fixed Assets Equipment Accumulated Depreciation Total Fbced Assets Total Assets $ 20,000.00 5.800.00 13,200.00 213.410.00 S