please answer 10.3-10.10. all other information is correct

22 8 Cash Budget 23 24 Assume actual cash receipts and disbursements will follow the pattern below: (Note: Receivables and 26 Payables of 12/31/x1 will have a cash impact in 20x2.) 27 28 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. 29 30 2. 83.00% of material purchases will be paid during the year, the remaining portion will be paid in Januay or February. 32 3. All other manufacturing and operating costs are paid for when incurred. 33 4. The budgeted depreciation expense is equal to 0.6% of the fixed manufacturing, selling and administrative expenses. 34 5. Minimum Cash Balance needed for 20x2, $190,000. 35 I See The Light Projected Cash Budget 36 38 For the Year Ending December 31, 20x2 Round dollars to two places, $#### 39 Beginning Cash Balance $ 34,710.000 Cash Inflows: Sales Collections; $ 67,500.00 Account Receivable (Sales last year not collected) Sales made and collected in 20x2 Cash Available $ 1,314,400.00 $ 1,416,610,00 Cash Outflows: Purchases Accounts Payable (Purchases last year) $ 33,800.000 Purchases made and paid for in 20x2 $ 428,413.44 Other Manufacturing Costs Direct Labor Total Manufacturing Overhead Selling and Administrative Less: Depreciation Total Cash Outflows Budgeted Cash Balance before financing Needed Minimum Balance 170,000.000 Amount to be borrowed (if any) Budgeted Cash Balance 56616568 40 41 42 44 45 46 47 48 50 51 52 53 54 56 57 58 59 60 61 62 63 64 65 66 37 58 ball $ (10.02) (10.03) (10.04) (10.05) (10.06) (10.07) (10.08) (10.09) (10.10) Factory Overhead Budget Overhead Allocation rate based on: 1. Number of Units Cost of making one unit next year Cost of one Lamp Kit Labor Cost Per Lamp Factory overhead per unit Total cost of one unit (Round to two places, $####) Selling and Admin. Budget Fixed Selling Variable Selling (Round to two places, $####) Fixed Administrative Variable Administrative (Round to two places, $####) Total Selling and Administrative (Round to two places, $####) Cost of Goods Sold 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 Total Materials: Labor Overhead Cost of Goods Available Less: Ending Inventory, Finished Goods Cost of Goods Sold Total Factory Overhead / Number of Units (Round to two places. $##.##) $8,89 (9.01) 16.56 (9.02) 27.55 (9.03) 37000 $122,460.00 (9.04) 58000 79,950.00 (9.05) $ 297.410.00 (9.06) Round dollars to two places, $#### $ 90,000,00 (9.07) $ 8.000.000 $ 639,216.000 $ 647,216.000 16.56 $ 11.592.00 (9.08) 635624 $ 635.624.00 (9.09) $ 80,640.00 (9.10) $ 341.408.00 (9.11) $ 1,147,672.00 (9.12) 66.120.00 (9.13) $ $. 1,081,552.00 (9.14) $ $ verenlerle $2.10 8.89 3 4 14 15 16 17 18 28 29 30 31 100 101 102 112 113 114 115 116 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 AA 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, $##.##) 3 Direct Labor Budget Labor Cost Per Lamp. Production Total Labor Cost (Round to two places, S####) 4 Factory Overhead Budget 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, $## ##) S5 $ $ $ $ $ $ $ 38,400 units 700 units 39,100 units 500 units 38600 16.56 639,216.00 2.10 38,400 units 80,640.00 2.1200000 38,400 units 81.408.00 260.000.00 341,408.00 (8.01) (8.02) (8.03) (8.04) (8.05) (8.06) (8.07) (8.08) (8.09) (8.10) (8.11) Budgets 6 8 Division N has decided to develop its budget based upon projected sales of 39.000 lamps at 9 $51.00 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 13 1. Production Budget 22 23 2. Materials Budget 24 25 3. Direct Labor Budget 26 35 4. Factory Overhead Budget 36 37 5. Selling and Administrative Budget 38 39 6. Cost of Goods Sold Budget 48 49 7. Budgeted Income Statement 50 51 8. Cash Budget 52 61 Notes for Budgeting: 62 63 64 The company wants to maintain the same number of units in the beginning and ending inventories of 65 work-in-process, and electrical parts while increasing the inventory of Lamp Kits to 700 pieces and 74 decreasing the finished goods by 20%. 75 76 Complete the following budgets 77 1 Production Budget Planned Sales Desired Ending Inventory of Finished Goods Total Needed Less: Beginning Inventory Total Production 5 78 87 88 89 90 91 100 101 102 103 104 113 114 115 116 39000 2400 41400 3000 38,400 units (7.01) 15 16 20 21 22 23 241 28 29 30 31 32 36 37 38 39 40 44 45 46 47 48 52 8388688788RENRERES58 55 60 61 62 64 69 70 71 72 77 79 80 81 82 Projected Income Statement For the Period Ending December 31, 20x1 25,000 lamps@ $45.00 @$30.00 $23,000.00 (Commission per unit) @ $3.00 75,000.00 $ 98,000.00 $42,000.00 @$2.00 50,000.00 92.000.00 Sales Cost of Goods Sold Gross Profit Selling Expenses Fixed Variable Administrative Expenses Fixed Variable Total Selling and Administrative Expenses Net Profit Current Assets Cash Accounts Receivable Inventory Raw Material Lamp Kits Work in Process Finished Goods Total Current Assets Equipment Accumulated Depreciation Total Fixed Assets Total Assets Fixed Assets I See The Light Projected Balance Sheet As of December 31, 20x1 500 @ $16.00 0 3000@ $30.00 Current Liabilities Accounts Payable Total Liabilities Stockholder's Equity Common Stock Retained Earnings Total Stockholder's Equity Total Liabilities and Stockholder's Equity $ 20,000.00 6,800.00 $ 12,00-00 147,410.00 $ 1,125,000.00 750,000.00 $ 375,000.00 190,000.00 $ 185,000.00 $ 34,710.00 67,500.00 8,000.00 90,000.00 $ 200,210.00 13,200.00 $ 213.410.00 $ $ 54,000.00 54,000.00 159.410.00 $ 213,410.00