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brittany clott 8895 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: Figurines Electrical Sets Lamp Shade Direct Labor $9.2000000 per lamp 1.2500000 per lamp 6.0000000 per lamp 2.2500000 per lamp (4 lamps/hr.) 0.2250000 per lamp ariable Overhead: Fixed Overhead: 10.0000000 per lamp (based on normal capacity of 25,000 lamps) Cost per lamp: 528.9250000 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 500% 2, Labor Costs are expected to increase by 600%. 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 6.50% 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. I See The Light Projected Income Statement For the Period Ending December 31, 20x1 Cost of Goods Sold Gross Profit Selling Expenses: 25,000 lamps$45.00 @ $28.93 $ 1,125,000.00 723,250.00 $ 401.750 00 Fixed $ 23,000.00 (Commission per unit)@ $3.15 78,750.00 $101,750 00 Administrative Expenses Fixed Variable $ 42,000.00 @ $008 1,500.00 43,500 00 Total Selling and Administrative Expenses Net Proft 145.250.00 256,500.00 l See The Light Projected Balance Sheet As of December 31, 20x1 Current Assets $ 34,710.00 Accounts Receivable 67,500.00 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 Fxed Assets $ 20,000.00 6,800.00 Accumulated Depreciation Total Fixed Assets Total Assets 13,200.00 $ 207 425.00 Current Liabilities $ 54.000.00 54,000.00 Accounts Payable Total Liabilities Equity $ 12,000.00 141,425.00 Common Stock Retained Earnings Total Stockholder's Equity Total Liabilities and Stockholder's Equity 153,425.00 207 425.00 8895 Cost of Goods Sold Gross Proft Selling Expenses & Admin. Expenses Net Income (10.01) 8 Cash Budge Assume actual cash receipts and disbursements will follow the pattern below: (Note: Receivables and Payables of 12311 will have a cash impact in 20x2.) emm Since our 1-18 00% of sales for the year are made in November and December. those funds will be collected be collected in January and February 86.00% of material purchases wil be paid during the year, the remaining portion will be paid in Januay or February 2 3. All other manufacturing and operating costs are paid for when incurred. 4. The 5. Minimum Cash Balance needed for 20x2, $175,000 depreciation expense is equal to 0 6% of the fixed manufacturing, selling and administrative expenses. I See The Light Projected Cash Budgot For the Year Ending December 31, 20x2 Round dollars to two S## #4 Beginning Cash Balance Cash Inflows: (10.02) (10.03) (10.04) Sales Collections Account Recelvable (Sales last year not collected) Sales made Cash Available and collected in 20x2 Cash Outflows: Accounts Payable (Purchases last year Purchases made and paid for in 20x2 (10.05) Other Manufacturing Costs Direct Labor Total Manufacturing Overhead Selling and Administrative Less: Depreciation (10.06) (10.07) Total Cash Outflows 10.08) Budgeted Cash Balance before financing Needed Minimum Balance (10.09 Amount to be borrowed fif any) (10.10) Budgeted Cash Balance brittany clott 8895 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: Figurines Electrical Sets Lamp Shade Direct Labor $9.2000000 per lamp 1.2500000 per lamp 6.0000000 per lamp 2.2500000 per lamp (4 lamps/hr.) 0.2250000 per lamp ariable Overhead: Fixed Overhead: 10.0000000 per lamp (based on normal capacity of 25,000 lamps) Cost per lamp: 528.9250000 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 500% 2, Labor Costs are expected to increase by 600%. 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 6.50% 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. I See The Light Projected Income Statement For the Period Ending December 31, 20x1 Cost of Goods Sold Gross Profit Selling Expenses: 25,000 lamps$45.00 @ $28.93 $ 1,125,000.00 723,250.00 $ 401.750 00 Fixed $ 23,000.00 (Commission per unit)@ $3.15 78,750.00 $101,750 00 Administrative Expenses Fixed Variable $ 42,000.00 @ $008 1,500.00 43,500 00 Total Selling and Administrative Expenses Net Proft 145.250.00 256,500.00 l See The Light Projected Balance Sheet As of December 31, 20x1 Current Assets $ 34,710.00 Accounts Receivable 67,500.00 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 Fxed Assets $ 20,000.00 6,800.00 Accumulated Depreciation Total Fixed Assets Total Assets 13,200.00 $ 207 425.00 Current Liabilities $ 54.000.00 54,000.00 Accounts Payable Total Liabilities Equity $ 12,000.00 141,425.00 Common Stock Retained Earnings Total Stockholder's Equity Total Liabilities and Stockholder's Equity 153,425.00 207 425.00 8895 Cost of Goods Sold Gross Proft Selling Expenses & Admin. Expenses Net Income (10.01) 8 Cash Budge Assume actual cash receipts and disbursements will follow the pattern below: (Note: Receivables and Payables of 12311 will have a cash impact in 20x2.) emm Since our 1-18 00% of sales for the year are made in November and December. those funds will be collected be collected in January and February 86.00% of material purchases wil be paid during the year, the remaining portion will be paid in Januay or February 2 3. All other manufacturing and operating costs are paid for when incurred. 4. The 5. Minimum Cash Balance needed for 20x2, $175,000 depreciation expense is equal to 0 6% of the fixed manufacturing, selling and administrative expenses. I See The Light Projected Cash Budgot For the Year Ending December 31, 20x2 Round dollars to two S## #4 Beginning Cash Balance Cash Inflows: (10.02) (10.03) (10.04) Sales Collections Account Recelvable (Sales last year not collected) Sales made Cash Available and collected in 20x2 Cash Outflows: Accounts Payable (Purchases last year Purchases made and paid for in 20x2 (10.05) Other Manufacturing Costs Direct Labor Total Manufacturing Overhead Selling and Administrative Less: Depreciation (10.06) (10.07) Total Cash Outflows 10.08) Budgeted Cash Balance before financing Needed Minimum Balance (10.09 Amount to be borrowed fif any) (10.10) Budgeted Cash Balance