need help with 9.01-10.10. please help

no

D E H K G I 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 Introduction FAQ A1 A2 A3 A4 85 A6 A7 A8 A 9 A 10 11 12 Be Automatic Workbook Statistics ype here to search Ne TES: 1 Seo 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 20,000.00 6,800.00 Fixed Assets Equipment Accumulated Depreciation Total Fixed Assets Total Assets 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 3 213,410,00 PART 1 Fixed and Variable Cost Determinations Unit Cost Calculations 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: $16.0000000 per lamp Direct Labor 20000000 per lamp (4 lamps/hr.) Variable Overhead: 2.0000000 per lamp Fixed Overhead: 10.0000000 per lamp (based on normal capacity of 25,000 lamps) Cost per 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 2.50% 2. Labor Costs are expected to increase by 6.00% 3. Variable Overhead is expected to increase by 3.50%. 4. Fixed Overhead is expected to increase to $255,000 5. Fixed Administrative expenses are expected to increase to $50,000 6. Variable selling expenses (measured on a per lamp basis) are expected to increase by 5.00%. 7. Fixed selling expenses are expected to be $29,000 in 20x2. 8. Variable administrative expenses (measured a per lamp basis) are expected to increase by 4.50%. On the following schedule develop the following figures: 1- 20x2 Projected Variable Manufacturing Unit Cost of a lamp. 2- 20x2 Projected Variable Unit Cost per lamp. 3- 20x2 Projected Fixed Costs. PART 3 Budgets Division N has decided to develop its budget based upon projected sales of 31,000 lamps at $52.00 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 600 pieces and decreasing the finished goods by 20% Complete the following budgets 1 Production Budget Planned Sales Desired Ending Inventory of Finished Goods Total Needed Less: Beginning inventory 31000 2400 33400 -3000 30,400 units Total Production 17.01) 2 Materiais Butant Lamp Kits Needed for Production Desired Ending Inventory Total Needed Le Beginning Inventory Total Purchases Cost per pince Cost of Purchase (Round to two places, S.) 3 Direct Labor Budant Labor Cost Per Lamp Production Total Labor Cont (Round do two places 5.8) 30,400 units 600 units 31.000 units 500 units 30500 16.40 50,200.00 (801) 18.02) (8.03) (8.04) (8.05) (8.06) (8.07) 212 30,400 unit 24.448 00 18.08) 4 Factory Overhead Busto 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 Total Factory Overhead (Round to two places, wwww) 0700000 Ons 29.00 18.00) 18.10) 111798.00 (8.11 318135 30400 $10.46 19.01) 4 Factory Overnand Budget Overhead Allocation rate based on 1. Number of Units Total Factory Overhead / Number of Units (Round to two placen, S) 5 Coat of making and unit next year Cost of one Lamp Labor Cost Per Lamp Factory overhead per unit Total cost of one unit (Round to two places, SOF) 16.4 52.12 10.16 19.02 $ 28.98 19.031 6 Salling and Admi. Budget Food Selling Variable Saling (Round to two pieces, S####) Foad Administrative Variable Administrative (Round to the places, SA Total Selling and Administrative Round to two places, SA 19.04) 29000 597 650,00 50000 64.790.00 241.440.00 S S 1905) 19.06) Goods 7 Solid Round dollars to two places. Si S POTOTO 1901) 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 5 9.840.00 19.08 $ S $ 498 380.00 84/448.00 31702200 Total Materials Labor Overhead Cost of Goods Available Less Ending Inventory. Finished Goods Cost of Goods Sold 1909 19.10 1911 1912 1913 101 $ 69.552.00 1612000 7 Budoared Income Statement Sales Cost of Goods Sold Gross Profit Selling Expenses & Admin. Expenses Net Income (10.01) 8 Cash Budget Assume actual cash receipts and disbursements will follow the pattern below: (Note: Receivables and Payables of 12/31/x1 will have a cash impact in 20x2.) 16,00% 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 8100% 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, 5165,000 I See The Light Projected Cash Budget For the Year Ending December 31, 20x2 Round dollars to two places, S. $ 34,710.000 Beginning Cash Balance Cash Inflows Sales Collections: Account Receivable (Sales last year not collected) Sales made and collected in 20x2 Cash Available S 67,500.00 11003 (1008 17004 Cash Outflows Purchases Accounts Payable (Purchases last year) 1 Seo The Light Projected Cash Budget For the Year Ending December 31, 2012 Round dollars to two places, $ 34.710.000 5 67,500.00 (1002) (10,03) (10.04 Beginning Cash Balance Cash Intlows Sales Collection Account Receivable (Sains last year not collected) Sales made and collected in 2012 Cash Available Cash Outflows: Purchases Accounts Payable (Purchases last year) Purchases made and paid for in 2012 Other Manufacturing Costs Direct Labor Total Manufacturing Overhead Selling and Administrative Loss Depreciation Total Cash Outflows Budgeted Cash Balance before financing Needed Minimum Balance 5 400,100.00 10.05) 10:06) 110.07 10.08 110.09) Amount to be borrowed (if any) Budgeted Canh Balance 110.101