| See The Light Projected Income Statement For the Period Ending December 31, 20x1 Sales 25,000Iamps @ $45.00 $ 1,125.00000 Cost of Goods Sold @ $30.00 T50.000.00 Gross Profit $ 3?5.000.00 Selling Expenses: Fixed $ 23.000 .00 Variable (Commission per unit) @ $3.00 T5.000.00 $ 00.000.00 Administrative Expenses: Fixed $ 42.000 .00 Variable @ $2.00 5000000 92 000.00 Total Selling and Administrative Expenses: 190 000.00 Net Profit $ 10500000 | See The Light Projected Balance Sheet As of December 31, 20x1 Current Assets Cash $ 34.710.00 Accounts Receivable 61500.00 Inventory Raw Material Lamp Kits 500 @ $16.00 000000 Wonk in Process 0 - Finished Goods 3000 @ $30.00 90 000.00 Total Current Assets $ 200.210.00 Fixed Assets Equipment $ 20.000.00 Accumulated Depreciation 6 800.00 Total Fixed Assets 1320000 Total Assets 213 410.00 Current Liabilities Accounts Payable $ 54 000.00 Total Liabilities $ 54.000.00 Stockholders Equityr Common Stock $ 12.000.00 Retained Earnings 147.410.00 Total Stockholders Equity 15041000 Total Liabilities and Stockholders Equity 213 410.00 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: Lamp Kit: $16.0000000 per lamp Direct Labor: 2.0000000 per lamp (4 lamps/hr.) Variable Overhead: 2.0000000 per lamp Fixed Overhead: 10.0000000 per lamp (based on normal capacity of 25,000 lamps) Cost per lamp: $30.0000000 per lamp Expected increases for 20x2 When calculating projected increases round to TWO ($0.00) decimal places. 1. Material Costs are expected to increase by 5.50% . 2. Labor Costs are expected to increase by 5.00%. 3. Variable Overhead is expected to increase by 3.50%. 4. Fixed Overhead is expected to increase to $270,000. 5. Fixed Administrative expenses are expected to increase to $46,000. 6. Variable selling expenses (measured on a per lamp basis) are expected to increase by 4.00%. 7. Fixed selling expenses are expected to be $31,000 in 20x2. 8. Variable administrative expenses (measured a per lamp basis) are expected to increase by 6.00%. 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.2 Materials Budget Lamp Kits Needed for Production 24,400 units (8.01} Desired Ending Inventory {8.02) Total Needed (8.03) Less: Beginning Inventory 500 units (8.04) Total Purchases Cost per piece (8.05) Cost of Purchases (Round to two places, $##.##) (8.06) 3 Direct Labor Budget Labor Cost Per Lamp (8.07) Production Total Labor Cost (Round to two places, $##.##) (8.08) 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, $##.##) (8.09) Fixed Factory Overhead (8.10} Total Factory Overhead (Round to two places, $##.##) $ 306,728.00 {8.11}