please help with 10.1, 10.5-10.10. i have attached answers that have already previously been answered to help!

7 Budged Income Statement 7 B 9 17 18 19 20 25000 x 25000x 49 2949 Sales Cost of Goods Sold Gross Profit Selling Expenses & Admin Expenses Net Operating Income 1225000 737250 487750 24-4750 2430.000,00 (1001) $ 33 8 Cash Budgor 41 42 Assume actual cash receipts and disbursements will follow the pattern below: (Note: Receivables and 43 Payables of 12/31x1 will have a cash impact in 2002.) 9889889&$ OA88888 45 1 20.00% 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 512 82.00% of material purchases will be paid during the year, the remaining portion will be paid in Januay or February 55 3. All other manufacturing and operating costs are paid for when incurred 56 4. The budgeted depreciation expense is equal to 0.6% of the fixed manufacturing, selling and administrative expenses 57 5. Minimum Cash Belarco noeded for 2012 2. $165,000 65 See The Light Projected Cash Budget 67 For the Year Ending December 31, 2012 Round dollars to two places Set 34 710 Beginning Cash Balance Cash Intlows Sales Collections Account Recolvable (Sales last year not collected) Salos made and collected in 20X2 Cash Available ES 5 5 67600.00 (1002) 980,000.00 (1003) 1082.210,00 (1004) 77 78 79 80 81 89 90 91 92 93 101 102 103 104 105 113 114 54.000 (1005) Cash Outflows: Purchases Accounts Payable (Purchases last year) Material purchases made and paid for in 2012 Other Manufacturing Costs Direct Labor Tot Manufacturing Overhead Selling and Administrative Less Depreciation Total Cash Outlaws 23.000 78.750 (10.06) (1007) 115 $ Budgeted Cash Balance before financing Needed Minimum Balance Amount to be borrowed (if any) 165.000.000 (1000) 165.000 116 117 110 119 120 121 (10.00 Budgeted Cash Ellance (10.10) I See The Light Projected Income Statement For the Period Ending December 31, 20x1 $ 1,125,000.00 723,250.00 $ 401,750.00 Sales 25,000 lamps @ $45.00 Cost of Goods Sold @ $28.93 Gross Profit Selling Expenses: Fixed Variable (Commission per unit) @ $3.15 Administrative Expenses Total Selling and Administrative Expenses: Net Profit $ 23,000.00 78,750.00 $ 101,750.00 40,750.00 142,500.00 $ 259,250.00 I See The Light Projected Balance Sheet As of December 31, 20x1 $ 34,710.00 67,500.00 4,600.00 625.00 Current Assets Cash Accounts Receivable Inventory Raw Material Figurines Electrical Sets Work in Process Finished Goods Total Current Assets Fixed Assets Equipment Accumulated Depreciation Total Fixed Assets Total Assets 500 @ $9.20 500 @ $1.25 0 3000 @ $28.9250 86,775.00 194,210.00 $ $ 20,000.00 6,800.00 13,200.00 $ 207.410.00 $ $ 54,000.00 54,000.00 + Current Liabilities Accounts Payable Total Liabilities Stockholder's Equity Common Stock Retained Eamings Total Stockholder's Equity Total Liabilities and Stockholder's Equity $ 12,000.00 141,410.00 $ 153,410.00 207.410.00 9 Variable Manufacturing Unit Cost 20x 1 Cost 20x2 Cost Rounded to 7 Decimal Places 10 11 Figurines 12 Electrical Sets 13 Lamp Shade 15 Labor 16 Variable Overhead 17 18 Projected Variable Manufacturing Cost Per Unit 19 21 22 23 Total Variable Cost Per Unit 9.2 1.25 6 2.25 0.225 Projected Percent Increase 3% 3% 3% 3% 4% $9.4760000 $1.2875000 $6.1800000 $2.3175000 $0.2328750 {4.01) (4.02) {4.03) {4.04) (4.05) 18.925 $19.4938750 {4.06) 20x1 Cost Projected Percent Increase 3.50% 20x2 Cost Rounded to 7 Decimal Places 3.2602500 3.15 0.0500000 {4.07) {4.08) {4.09) 3.3102500 24 25 Variable Selling 27 Variable Administrative 20x1 28 Variable Administrative 20x2 29 30 Projected Variable Manufacturing Unit Cost 31 Projected Total Variable Cost Per Unit 33 34 35 36 Schedule of Fixed costs 18.925 22. 135 $19.49 26.0643750 {4.06) (4.10) 20x 1 Cost Projected Increase 20x2 Cost Rounded to 2 Decimal Places $ 269,100.00 260,000 25000 lamps10 (4.11) lamps 37 39 Fixed Overhead 40 (normal capacity of 41 Faxed Selling 42 Fixed Administrative 20x1 43 Fixed Administrative 20x2 45 Projected Total Fixed Costs 46 3.50% $ 39,000.00 39,500.00 $ $ 41,500.00 349,600.00 (4.12) (4.13) (4.14) (4.15) Division N has decided to develop its budget based upon projected sales of 25,000 lamps at $49.00 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: 1 1. Production Budget 2 3 2. Materials Budget 4 9 3. Direct Labor Budget 0 1 4. Factory Overhead Budget 2 -3 5. Seling and Administrative Budget 8 39 6. Cost of Goods Sold Budget 10 31 7. Budgeted Income Statement 2 37 8. Cash Budget 38 49 Notes for Budgeting: 50 51 56 The company wants to maintain the same number of units in the beginning and ending inventories of 57 work-in-process, and electrical parts while increasing the figurines inventory to 725 pieces and 58 increasing the finished goods by 25.00% 59 60 Complete the following budgets 65 66 1 Production Budget 67 68 Planned Sales 69 Desired Ending Inventory of Finished Goods (roundup to the next unit) 74 Total Nooded 75 Less: Beginning Inventory 76 Total Production 78 25000 3750 28750 3000 77 25,750 units (7.01) (8.01) (8.02) 2 Materials Butar Figurines Needed for Production Desired Ending Inventory Total Nooded Less: Beginning inventory Total Purchases Cost per pleco Cost of Purchases (Round to two places. Se ) From B/S 25,750 units 725 units 26,475 units 500 units 25975 units 9.476 246 139.10 (803) (8.04) $ (8.05) Boctrical Parts Needed for Production Desired Ending Inventory Total Needed Less: Beginning Inventory Total Purchases Cost per piece Cost of Purchases (Round to two places, S.) (8.06) 25750 500 26,250 units 500 25.750 units 1.2875 33 153.13 $ (8.07 2572801 SOP 20250 Lamp Shades not worted they were from the top redom Needed for Production Detired Ending Inventory Total Needed Lose: Beginning Inventory Total Purchases Cost per piece Cost of Purchases (Round to wo places, S.488) 26250 6.18 159,135.00 (8.08) 3 DirectLab Budak Labor Cost Per Lamp Production Total Labor Cost (Round to two places, SAX) 231751 25750) 59.675.63 $ (809) 4 Factory Overhead Budo Variable Factory Overhead Variable Factory Overhead Cost Per Unit Number of Units to be produced Total Variable Factory Overhead (Round to two places, SUA) Fixed Factory Overhead Total Factory Overhead (Round to two places, St* **) Predetermined Factory Overhead Rate based upon the budgeted total factory OH, divided by the budgeted number of units to be produced, and then rounded to seven places, S. 02228750 25750 5.99653 289 100 $ (8.10) $ 275 096.53 (8.11) S 1068338040 (8.12)