Using the first three pages of information, answer the questions with yellow boxes, while providing work in the white boxes.

2 Materials Budget Lamp Kits Needed for Production {8-01} Desired Ending Inventory {8.02} Total Needed {8-03} Less: Beginning Inventory {3-04} 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 Faaio Overhead Bud at 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, $##.##) {8.1 1} 4 Factory Overhead Budget Overhead Allocation rate based on: 1. Number of Units Total Factory Overhead / Number of Units (Round to two places, $##.##) (9.01} 5 Cost of making one unit next year Cost of one Lamp Kit Labor Cost Per Lamp {9.02} Factory overhead per unit Total cost of one unit (9.03} (Round to two places, $##.##) 6 Selling and Admin. Budget Fixed Selling Variable Selling (Round to two places, $##.##) (9.04) Fixed Administrative Variable Administrative (Round to two places, $##.##) (9.05} Total Selling and Administrative (Round to two places, $##.##) (9.06} VUSLUL Goods Sold Round dollars to two Budget places, $##.## Beginning Inventory, Finished Goods {9.07} Production Costs: Materials: Lamp Kits: Beginning Inventory Purchased Available for Use Ending Inventory of Lamp Kits (9.08} Lamp Kits Used In Production Total Materials: (9.09} Labor {9.10} Overhead (9.11} Cost of Goods Available {9.12} Less: Ending Inventory, Finished Goods (9.13) Cost of Goods Sold (9.14}7 Budgeted Income Statement Sales Cost of Goods Sold Gross Profit Selling Expenses & Admin. Expenses Net Income (10.01} 8 Cash Budget actual cash receipts and disbursements will follow the pattern below: (Note: Receivables and Payables of 12/31/x1 will have a cash impact in 20x2.) . 16.00% 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. 83.00% of material purchases will be paid during the year, the remaining portion will be paid in Januay or February. 3. All other manufacturing and operating costs are paid for when incurred. The budgeted depreciation expense is equal to 0.6% of the fixed manufacturing, selling and administrative expenses. 5. Minimum Cash Balance needed for 20x2, $180,000 . I See The Light Projected Cash Budget For the Year Ending December 31, 20x2 Round dollars to two places, $##.## Beginning Cash Balance Cash Inflows: Sales Collections Account Receivable (Sales last year not collected) {10.02} Sales made and collected in 20x2 (10.03} Cash Available (10.04) Cash Outflows: Purchases Accounts Payable (Purchases last year) Purchases made and paid for in 20x2 (10.05} Other Manufacturing Costs Direct Labor Total Manufacturing Overhead Selling and Administrative Less: Depreciation (10.06} Total Cash Outflows (10.07} geted Cash Balance before financing (10.08} Needed Minimum Balance Amount to be borrowed (if any) (10.09} Budgeted Cash Balance (10.10}PART 4 Process Costing - Weighted Average General Information The I See The Light Company has a related company that produces the figurines. They use process costing in the molding department. The factory overhead is applied at a rate of 50% of direct labor dollars. The material is added at the beginning of the process. The labor and overhead costs are assumed to be added uniformly throughout. Month of January Selected information for January is presented below. Note that the applied overhead rate was 50% of direct labor costs in the molding department. Molding Department Goods in-process as of January 1 were 3,600 figurines at a cost of $56,487.75. Of this amount, $5,904.00 was from raw materials added, $33,722.50 for labor and $16,861.25 for overhead. These 3,600 figurines were assumed to be 70.00% complete as to labor and overhead. During January, 23,500 units were started, $36,372.00 of materials and $54,222.50 of labor costs were incurred. The 4,500 figurines that were in-process at the end of January were assumed to be 90.00% complete to labor and overhead. All figurines in January passed inspection. MOLDING Physical Flow of Units Work-in-Process - Beginning Units Started this Period Units to Account for Total transferred out (12.01} Work-in-Process - Ending (12.02) Total Accounted for Equivalent Units Material (Round to two places, ##,####.##) {12.03} Equivalent Units Conversion (Round to two places, ##,####.##) {12.04} Total cost of Material (Round to two places, ##.###.## (12.05} Total cost of Conversion (Round to two places, ##.####.##) [12.06} Total cost to account for (Round to two places, ##.####.##) (12.07} Cost per equivalent unit of Material (Round to two places, ###.##) (12.08} Cost per equivalent unit of Conversion (Round to two places, ###.##) {12.09} Cost of the ending inventory, material and convesion (Round to two places, $###,###.##) {12.10} Cost of the units transferred, material and convesion (Round to two places, $###,###.## ) {12.11}