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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 Variable Overhead: Fixed Overhead: $9.2000000 per lamp 1.2500000 per lamp 6.0000000 per lamp 2.2500000 per lamp (4 lamps/hr.) 0.2250000 per lamp 10.0000000 per lamp (based on normal capacity of 25,000 lamps) Cost per lamp $28.9250000 per lamp Expected increases for 20x2 When calculating projected increases round to SEVEN decimal places, 50.0000000 1. Material Costs are expected to increase by 3.00% 2. Labor Costs are expected to increase by 3.00% 3. Variable Overhead is expected to increase by 3.50% 4. Fixed Overhead is expected to increase to $260,000 5. Fixed selling expenses are expected to be $39,000 in 20x2. 6. Variable selling expenses (measured on a per lamp basis) are expected to increase by 3.50% 7 Fixed Administrative expenses are expected to increase by $2,000. The total administrative expenses for 20x0 were $40,625.00, when 22,500 units were sold. Use the High-Low method to calculate the total fixed administrative expense. When calculating projected increases round to SEVEN decimal places, $0.0000000 1. Material Costs are expected to increase by 3.00%. 2. Labor Costs are expected to increase by 3.00%. 3. Variable Overhead is expected to increase by 3.50%. 4. Fixed Overhead is expected to increase to $260,000. 5. Fixed selling expenses are expected to be $39,000 in 20x2. 3 6. Variable selling expenses (measured on a per lamp basis) are expected to increase by 3.50%. 5 6 7. Fixed Administrative expenses are expected to increase by $2,000. 7 The total administrative expenses for 20x0 were $40,625.00, when 4 22,500 units were sold. Use the High-Low method to calculate 5 the total fixed administrative expense. 6 7 8. Variable administrative expenses (measured on a per lamp basis) are expected to 8 increase by 5.00%. The total administrative expenses for 20x0 were 5 $40,625.00, when 22,500 units were sold. Use the High-Low method to calculate 36 the variable administrative expense per lamp 37 38 On the following schedule develop the following figures: 39 1- 20x2 Projected Variable Manufacturing Unit Cost of a lamp. 36 37 2- 20x2 Projected Variable Unit Cost per lamp. 28 99 3- 20x2 Projected Fixed Costs. 00 107 108 Variable Manufacturing Unit Cost 20x 1 Cost 20x2 Cost Rounded to 7 Decimal Places 0 9.2 1 Figurines 2 Electrical Sets 3 Lamp Shade 5 Labor 6 Variable Overhead 7 8 Projected Variable Manufacturing Cost Per Unit 9 Projected Percent Increase 3% 3% 3% 3% 4% 1.25 6 2.25 0.225 $9.4760000 $1.2875000 $6.1800000 $2.3175000 $0.2328750 {4.01) {4.02) {4.03) (4.04) {4.05) 18.925 $19.4927500 (4.06) 22 23 Total Variable Cost Per Unit 20x 1 Cost Projected Percent Increase 3.50% 20x2 Cost Rounded to 7 Decimal Places 24 25 Variable Selling 27 Variable Administrative 20x1 28 Variable Administrative 20x2 3.15 0.80000001 5% 3.2602500 {4.07) 0.84 (4.08) 4.1002500 (4.09) 29 18.925 22.135 $19.48 (4.06) (4.10) 230 Projected Variable Manufacturing Unit Cost 31 Projected Total Variable Cost Per Unit 33 34 35 36 Schedule of Fixed Costs 20x 1 Cost Projected Increase 20x2 Cost Rounded to 2 Decimal Places 260,000 25000 lamps @ 10,4 (4.11) lamps $ 39,000.00 37 39 Fixed Overhead 40 (normal capacity of 41 Fxed Selling 42 Fixed Administrative 20x1 43 Fixed Administrative 20x2 45 Projected Total Fixed Costs 46 47 20,265.00 (4.12) (4.13) (4.14) (4.15)
