I see the light accounting project. I need the missing information in 6) selling and admistrative budget and 7)Goods sold budget.

PART 3
	Budgets
Division N has decided to develop its budget based upon projected sales of 37,000 lamps at
$55.00 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 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 inventory of Lamp Kits to 750 pieces and
decreasing the finished goods by 20%.
Complete the following budgets
1	Production Budget
	Planned Sales			37000
	Desired Ending Inventory of Finished Goods			2400
	Total Needed			39400
	Less: Beginning Inventory
	Total Production			36,400 units	{7.01}

Projected Income Statement For the Period Ending December 31, 20x1 $45.00 $30.00 $ 1,125,000.00 750,000.00 $ 375,000.00 Sales 25,000 lamps @ Cost of Goods Sold @ Gross Profit Selling Expenses: Fixed Variable (Commission per unit) @ Administrative Expenses: Fixed Variable @ Total Selling and Administrative Expenses: Net Profit $3.00 $ 23,000.00 75,000.00 $ 98,000.00 $2.00 $ 42,000.00 50,000.00 92,000.00 190,000.00 185,000.00 I 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 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 Variable Manufacturing Unit Cost 20x1 Cost Projected Percent Increase 20x2 Cost Rounded to 2 Decimal Places Lamp Kit Labor Variable Overhead $16.88 $2.05 $2.07 (4.01) (4.02) {4.03) Projected Variable Manufacturing Cost Per Unit $21.00 4.04) Total Variable Cost Per Unit 20x 1 Cost Projected Percent Increase 20x2 Cost Rounded to 2 Decimal Places Variable Selling Variable Administrative Projected Variable Manufacturing Unit Cost 3.20 2.121 21.00 {4.05) (4.06) (4.04) Projected Total Variable Cost Per Unit L 2 6.32 (4.07) Schedule of Fixed Costs 20x 1 Cost 20x2 Cost Projected Percent Increase $ 270,000.00 (4.08) lamps _) Fixed Overhead (normal capacity of Fixed Selling Fixed Administrative 41,000.00 56,000.00 (4.09) (4.10) Projected Total Fixed Costs S 3 67.000.00 (4.11) 2 Materials Budget L Lamp Kits Needed for Production Desired Ending Inventory Total Needed Less: Beginning Inventory Total Purchases Cost per piece Cost of Purchases (Round to two places, $##.##) 36,400 units 750 units 37,150 units 500 units 36650 16.88 618,652.00 (8.01) (8.02) {8.03) (8.04) $ $ {8.05) (8.06) 3 Direct Labor Budget $ 2.05 {8.07) Labor Cost Per Lamp Production Total Labor Cost (Round to two places, $##.##) 36,400 units 74,620.00 $ (8.08) 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 $ $ 75,348.00 270,000.00 (8.09) (8.10) Total Factory Overhead (Round to two places, S####) S 345,348.00 (8.11) 4 Factory Overhead Budget Overhead Allocation rate based on: 1. Number of Units Total Factory Overhead / Number of Units (Round to two places, $it.) 9.499.01) 5 Cost of making one unit next year Cost of one Lamp Kar Labor Cost Per Lamp Factory overhead per unit 16.88 205 (9.02) $ 28.42 (9.03) Total cost of one unit (Round to two places, $.) 6 Selling and Admin. Budget (9.04) Fixed Selling Variable Selling (Round to two places, S. ) Fixed Administrative Variable Administrative (Round to two places, str.) Total Selling and Administrative (Round to two places, str. (9.05) {9.06) ) Round dollars to two places, S. 90.000 units (9.07) Goods Sold Budget- Beginning Inventory. Finished Goods Production Costs: Materials: Lamp Kits: Beginning Inventory Purchased Available for Use Ending Inventory of Lamp Kits Lamp Kits Used In Production (9.08) $ $ 74.620.00 345.436.00 Total Materials: Labor Overhead Cost of Goods Available Less: Ending Inventory. Finished Goods Cost of Goods Sold 19.09) 19.10) (9.11) (9.12) 19.13) {9.14) 68.208.00 966,280.00 $