only need answers for yellow spots please

Page 2 I See The Light Projected Income Statement For the Period Ending December 31, 20x1 25,000 lamps$45.00 $28.93 S 1,125,000.00 723,250.00 s 401,750.00 Cost of Goods Sold Gross Profit Selling Expenses $ 23,000.00 (Commission per unit@ $3.15 78,750.00 $ 101,750.00 1,500.00 43,500.00 Fixed in Ra Administrative Expenses: $42,000.00 Fixed Variable $0.06 145.250.00 256.500.00 ng pn Total Selling and Administrative Expenses: Net Proft I See The Light Projected Balance Sheet As of December 31, 20x1 Current Assets s 34,710.00 67,500.00 Accounts Receivable Raw Material Figurines 500 $9.20 500 $1.25 4,600.00 625.00 Electrical Sets Work in Process Finished Goods 3000@$28.93 86,790.00 194,225.00 Total Current Assets Fixed Assets s 20,000.00 6,800.00 Total Fixed Assets 13,200.00 $ 207,425.00 Total Assets Current Liabilities Accounts Payable Total Liabilities $ 54,000.00 $ 54,000.00 Common Stock 12,000.00 141,425.00 Retained Earnings Total Stockholder's Equity Total Liabilities and Stockholder's Equity 153,425.00 207,425.00 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 $9.2000000 per lamp 1.2500000 per lamp 6.0000000 per lamp Figurines Electrical Sets Lamp Shade Direct Labor: Variable Overhead: Fixed Overhead: 2.2500000 per lamp (4 lampshr.) 10.0000000 per lamp (based on normal capacity of 25,000 lamps) 0.2250000 per lamp Cost per lamp $28 9250000 per lamp Expected increases for 20x2 When calculating projected increases round to SEVEN decimal places,$0.0000000. 1, Material Costs are expected to increase by 5 00% 2. Labor costs are expected to increase by 6.00%. 3. Variable Overhead is expected to increase by 4 50%. 4. Fixed Overhead is expected to increase to $285,000. 5. Fixed Administrative expenses are expected to increase to $60,000. 6. Variable selling expenses (measured on a per lamp basis) are expected to increase by 3.50%. 7. Fixed selling expenses are expected to be $37,000 in 20x2. 8. Variable administrative expenses (measured a per lamp basis) are expected to increase by 650%. 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 2 Cost Cost Volume Relationships - Profit Planning egin work on the budget for 20x2 Big AJ is about to on the and they have requested that you prepare an analysis have up to the next that we cannot sell part of a amp, therefore to find the number of units you have to round in dollars it may be easier to find the complete unit. Furthuremore, to find the required sales humber of units and then multiply by the seling price per the selling price per lamp ill be $45.00. 1. For 20x2 What is the projected contribution margin and contribution the each lamp sokd? (5.01) Contribution Margin per unit (Round to seven places. (5.02) S#########) sa #### 6) Contribution Margin Ratio (Round to seven places,% is two of those places or 20x2 the selling price per lamp will be $45.00. How many lamps must be (5.03) Breakeven sales in units (Round up to zero places. #44### units) 3. For 20x2 t the selling price per lamp will be $45.00. The desired net income in 20x2 is $264,000. What would sales in units have to be in 20x2 to reach the (5.04) Sales in units (Round up to zero places. ##m# units) 4. For 20x2 the of selling price per lamp wil be $45 sales If that is to be achieved, 00. The company would like to have a net income equal what would be the sales in units in 20x2? wouk 1 (6.01) Sales units (Round up to zero places. ### units) that it could only sell 25,000 lamps, what would the new selling price have to be equal to last year's contribution margin per unit? 5. If the company believed so that the new contribution margin per unit is (6.02) New Selling Price (Rund up to two places, sess,### ## } selling price per lamp will be $45.00. How many units must be sold to generated of $260,000 6.03) Sales in units (Round up to zero places. ### ### units) 7. If the company believes that the demand will be 27,500 units for the year. What selling price per lamp, rounded to two would generate a net income of $823 500? (6.04) New selling price per lamp (Round up to two places, s######## )