PART $3$

Budgets

Division $N$ has decided to develop its budget based upon projected sales of $39,000$ lamps at

$$55\mathrm{.}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:

Production Budget

Materials Budget

Direct Labor Budget

Factory Overhead Budget

Selling and Administrative Budget

Cost of Goods Sold Budget

Budgeted Income Statement

Cash Budget

Notes for Budgeting:

The company wants to maintain the same number of units in the beginning and ending inventories ol

work$-$in$-$process, and electrical parts while increasing the inventory of Lamp Kits to $675$ 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

Total Production

$\{7\mathrm{.}01\}$