Ive attathed what ive done so far. its all correct. what i need are the empty yellow boxes. thanks! will thumbs up! (9.03 and 9.07 onwards) thank you

4 PART 3 Budgets 8 Division N has decided to develop its budget based upon projected sales of 33,000 lamps at 9 $46.00 per lamp. 10 The company has requested that you prepare a master budget for the year. This budget is to be used 11 for planning and control of operations and should be composed of: 12 21 1. Production Budget 23 2. Materials Budget 25 3. Direct Labor Budget 4. Factory Overhead Budget 34 35 36 37 5. Selling and Administrative Budget 38 / 47 6. Cost of Goods Sold Budget 48 49 7. Budgeted Income Statement 50 51 8. Cash Budget 60 61 Notes for Budgeting: 62 63 64 The company wants to maintain the same number of units in the beginning and ending inventories of 73 work-in-process, and electrical parts while increasing the inventory of Lamp Kits to 525 pieces and 74 decreasing the finished goods by 20%. 75 76 Complete the following budgets 77 86 1 Production Budget 88 Planned Sales Desired Ending Inventory of Finished Goods Total Needed Less: Beginning Inventory 33000 2400 35400 3000 90 99 100 101 102 Total Production 32,400 units {7.01} 2 Materials Budget 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, $##.##) 32,400 units 525 units 32,925 units 500 units 32,425 units 16.48 534,364.00 {8.01} {8.02) {8.03} {8.04) S {8.05} {8.06} 13 $ 82 83 3 Direct Labor Budget 93 IS 2.12 {8.07} 94 95 96 Labor Cost Per Lamp Production Total Labor Cost (Round to two places, $##.##) $ 68,688.00 {8.08} 97 107 4 Factory Overhead Budget 108 109 110 111 121 122 Variable Factory Overhead: Variable Factory Overhead Cost Per Unit Number of Units to be produced Total Variable Factory Overhead (Round to two places, $##.#) Fixed Factory Overhead S $ 68,040.00 255,000.00 {8.09} {8.10} 123 124 125 135 136 137 Total Factory Overhead (Round to two places, $##.##) $ 323,040.00 {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, $##.##) $9.979.01) 5 Cost of making one unit next year Cost of one Lamp Kit Labor Cost Per Lamp Factory overhead per unit 16.48 $2.12 {9.02) {9.03} Total cost of one unit (Round to two places, $##.#) 56 6 Selling and Admin. Budget 57 58 59 66 23000 $100,750.50 {9.04} Fixed Selling Variable Selling (Round to two places, $##.##) Fixed Administrative Variable Administrative (Round to two places, $##.##) Total Selling and Administrative (Round to two places, $##.##) 671 68 67,825.50 168,576.00 {9.05) 9.06 69 70 Round dollars to two places, $##.## 77 {9.07} 78 79 LOSI OL Goods Sold Budaet - 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 81 88 89 90 {9.08) 91 92 106 107 108 Total Materials: Labor Overhead Cost of Goods Available Less: Ending Inventory, Finished Goods Cost of Goods Sold {9.09} {9.10) {9.11} {9.12) {9.13) {9.14} 109 110 111 112 8 7 Budgeted Income Statement 10 13 14 15 Sales Cost of Goods Sold Gross Profit Selling Expenses & Admin. Expenses Net Income {10.01) 16 22 8 Cash Budget 23 Assume actual cash receipts and disbursements will follow the pattern below: (Note: Receivables and Payables of 12/31/xl will have a cash impact in 20x2.) 25 26 27 28 29 31 32 33 34 35 1. 19.00% 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. 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 Cash Balance needed for 20x2, $180,000 I See The Light Projected Cash Budget For the Year Ending December 31, 20x2 Round dollars to two places, S##.## 40 43 44 Beginning Cash Balance Cash Inflows: Sales Collections: Account Receivable (Sales last year not collected) Sales made and collected in 20x2 Cash Available {10.02) 45 46 {10.03) {10.04) 50 52 {10.05) Cash Outflows: Purchases Accounts Payable (Purchases last year) Purchases made and paid for in 20x2 Other Manufacturing Costs Direct Labor Total Manufacturing Overhead Selling and Administrative Less: Depreciation Total Cash Outflows 55 {10.06) {10.07) 59 60 {10.08) Budgeted Cash Balance before financing Needed Minimum Balance Amount to be borrowed (if any) {10.09) 64 65 66 Budgeted Cash Balance {10.10) 4 PART 3 Budgets 8 Division N has decided to develop its budget based upon projected sales of 33,000 lamps at 9 $46.00 per lamp. 10 The company has requested that you prepare a master budget for the year. This budget is to be used 11 for planning and control of operations and should be composed of: 12 21 1. Production Budget 23 2. Materials Budget 25 3. Direct Labor Budget 4. Factory Overhead Budget 34 35 36 37 5. Selling and Administrative Budget 38 / 47 6. Cost of Goods Sold Budget 48 49 7. Budgeted Income Statement 50 51 8. Cash Budget 60 61 Notes for Budgeting: 62 63 64 The company wants to maintain the same number of units in the beginning and ending inventories of 73 work-in-process, and electrical parts while increasing the inventory of Lamp Kits to 525 pieces and 74 decreasing the finished goods by 20%. 75 76 Complete the following budgets 77 86 1 Production Budget 88 Planned Sales Desired Ending Inventory of Finished Goods Total Needed Less: Beginning Inventory 33000 2400 35400 3000 90 99 100 101 102 Total Production 32,400 units {7.01} 2 Materials Budget 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, $##.##) 32,400 units 525 units 32,925 units 500 units 32,425 units 16.48 534,364.00 {8.01} {8.02) {8.03} {8.04) S {8.05} {8.06} 13 $ 82 83 3 Direct Labor Budget 93 IS 2.12 {8.07} 94 95 96 Labor Cost Per Lamp Production Total Labor Cost (Round to two places, $##.##) $ 68,688.00 {8.08} 97 107 4 Factory Overhead Budget 108 109 110 111 121 122 Variable Factory Overhead: Variable Factory Overhead Cost Per Unit Number of Units to be produced Total Variable Factory Overhead (Round to two places, $##.#) Fixed Factory Overhead S $ 68,040.00 255,000.00 {8.09} {8.10} 123 124 125 135 136 137 Total Factory Overhead (Round to two places, $##.##) $ 323,040.00 {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, $##.##) $9.979.01) 5 Cost of making one unit next year Cost of one Lamp Kit Labor Cost Per Lamp Factory overhead per unit 16.48 $2.12 {9.02) {9.03} Total cost of one unit (Round to two places, $##.#) 56 6 Selling and Admin. Budget 57 58 59 66 23000 $100,750.50 {9.04} Fixed Selling Variable Selling (Round to two places, $##.##) Fixed Administrative Variable Administrative (Round to two places, $##.##) Total Selling and Administrative (Round to two places, $##.##) 671 68 67,825.50 168,576.00 {9.05) 9.06 69 70 Round dollars to two places, $##.## 77 {9.07} 78 79 LOSI OL Goods Sold Budaet - 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 81 88 89 90 {9.08) 91 92 106 107 108 Total Materials: Labor Overhead Cost of Goods Available Less: Ending Inventory, Finished Goods Cost of Goods Sold {9.09} {9.10) {9.11} {9.12) {9.13) {9.14} 109 110 111 112 8 7 Budgeted Income Statement 10 13 14 15 Sales Cost of Goods Sold Gross Profit Selling Expenses & Admin. Expenses Net Income {10.01) 16 22 8 Cash Budget 23 Assume actual cash receipts and disbursements will follow the pattern below: (Note: Receivables and Payables of 12/31/xl will have a cash impact in 20x2.) 25 26 27 28 29 31 32 33 34 35 1. 19.00% 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. 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 Cash Balance needed for 20x2, $180,000 I See The Light Projected Cash Budget For the Year Ending December 31, 20x2 Round dollars to two places, S##.## 40 43 44 Beginning Cash Balance Cash Inflows: Sales Collections: Account Receivable (Sales last year not collected) Sales made and collected in 20x2 Cash Available {10.02) 45 46 {10.03) {10.04) 50 52 {10.05) Cash Outflows: Purchases Accounts Payable (Purchases last year) Purchases made and paid for in 20x2 Other Manufacturing Costs Direct Labor Total Manufacturing Overhead Selling and Administrative Less: Depreciation Total Cash Outflows 55 {10.06) {10.07) 59 60 {10.08) Budgeted Cash Balance before financing Needed Minimum Balance Amount to be borrowed (if any) {10.09) 64 65 66 Budgeted Cash Balance {10.10)