Would appreciate help with all that you can help with.

I See The Light Projected Income Statement For the Perlod Ending December 31, 20x1 Sales. Cost ol Goods Sold Gross Profit Selling Expenses: Fixed Variable Administrative Expenses: Fixed Variable () $200 $42,000.0050,000.00 Total Selling and Administrative Expenses: Net Probit I Soe The Light Projected Balance Sheet As of Decomber 31, 20x1 Currert Rssets Cash Accounts Receivable Invertory Faned Assets Equpmert Acoumdalid Depreciation Totil Fixed Assets Total Assels \begin{tabular}{rr} 50,000.00 \\ 6.800,00 & \\ & 13,200.00 \\ \hline & 213,410,00 \\ \hline \end{tabular} Currert Liabilises Acocunts Peyude Toual Lablities Slockholder's Equty Common Slook Rolained Earning Tolal Stockitulder's Equity Todal Uabiitiee and Slockholdor's Equity ART 1 Fixed and Variable Cost Determinations Unit Cost Calculations The projected cost of a lamp is calculated based upon the projected increases or docreases to current costs. The present costs to manufacture one lamp are: Expected increases for 2002 When calculaing projected increases round to TWO ($0.00) decimal places. 1. Material Costs are expocted to increase by 5.00%. 2. Labor Costs are expected to increase by 5.50%. 3. Variable Overhead is expected to increase by 5.00%. 4. Fixed Overhead is expected to increase to $255,000 5. Fixed Administrative expenses are expected to increase to $62.000. 6. Variable selling expenses (measured on a per lamp basis) are expected to increase by 4.50% 7. Fixed selling expenses are expecled to be $41,000 in 20x2 8. Variable administrative expenses (measured a per lamp basis) are expected to increase by 300%. On the following schedule devalop the following figures: 1. 202 Projectod Variable Manufacturing Unit Cost of a Lamp. 2. 202 Projected Variable Unit Cost per lamp. I See The Light, Inc Cost Volume Relationships - Profit Planning Big A is about to bogin work on the budget for 202 and they have requested that you prepare an analysis based on the following assumptions. Note: Remember, that we cannot sell part of a lamp, therefore to find the number of units you have to round up to the next complete unit. Furthuremore, to find the required sales in doilars it may be easler to find the number of units and then muliply by the selling price por unit. For 20x2 the selling price per lamp will be $45.00. What is the projected cortributon margin and contribution matrin ratio fre each famn ende? Contriouton Margin per unt (kound to two places, shentit) Contribution Margin Rabio (Round to four places, \% is two of those places as naks) For 20x2 the selling price per lamp will be $45.00. The desired net income in 20x2 is $192.500. What would sales in urits have to be in 20x2 to reach the arofit ocal? For 20x the selling price per lamp will be $45.00. If the fixed cost increase by $60,000.00 how many lamps must he crid th hraskain? Breakevon salos in urits isince we cannot seil pat of a unit mund wo lo the nent unt if needed) For 202 the selling price per lamp will be $45.00. If the variable cost increase by $6.00 a unit how many lamps must be sold to breakeven? Breakeven sales in units (Since we cannot sell part of a unit round up to the next unit if needed) For 202 the selling price per lamp will be $45.00. If the variable cost decreased by $6.00 a unit how many lamps must be sold to breakeven? If for 202 the selling price per lamp is increased to $51.00 a unit how many lamps must be sold If for 202 the selling price per lamp is decreased to $39.00 a unit how many lamps must be sold Budgets Division N has decided to develop its budget based upon projected sales of 43,000 lamps at $51.00 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. Production Budget 2. Materials Budget 3. Direct Labor Budget 4. Factory Overhead Budget 5. Selling and Administrative Budget 6. Cost of Goods Sold Budget 7. Budgeted Income Statement 8. Cash Budget Notes for Budgeting: The company wants to maintain the same number of units in the beginning and ending inventories of work-in-process, and electrical parts while increasing the inventory of Lamp Kits to 750 pieces and decreasing the finished goods by 20%. Complete the following budgets 1 Production Budget Planned Sales Desired Ending Inventory of Finished Goods Total Needed Les6: Beginning inventory Total Production 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, \$\#\#H.\#\#) {8.01}{8.02}{8.03}{8.04}{8.05}{8.06} 3 Direct Labor Budget Labor Cost Per Lamp Production Total Labor Cost (Round to two places, \$HH.HH) 4 Eectory Ovemhod Budget Variable Factory Overhead: Varible Factory Ovemead Cost Per Unit Number of Units to be Produced Total Variabie Factory Ovemead (Round to two places, \$htt. Hit) Fised Factory Ovemead Total Factory Overhead (Round to two places, SiA..H.H) \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} {8.07} (8.08} (8.09) (8.10) \{8.11\} 4 Facterr Overhead Budget Overhead Allocation rate based on: 1. Number of Units Total Factory Overhead / Number of Units (Round to two places, \$H\#. \#\#\#) \begin{tabular}{|l|l|l|} \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} {9.01} 5 Cost of making one unit next yoar Cost of one Lamp Kit Labor Cost Per Lamp Factory overhead per unit Total cost of one unit \begin{tabular}{|l|l|l|} \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} (9.02) (9.03) (Round to two places, Sti, Ati) 6 Selling and Admin. Budgot Fored Seling Variable Selling (Round to two places, \$\#\#.\#\#H) {9.04} Foced Administrative Variable Administrative (Round to two places, \$4\#.\#\#\#) Total Selling and Administrative (Round to two places, \$\#\#.\#\#H) \begin{tabular}{|l|l|l|l|l|} \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline \end{tabular} (9.05) {9.06} {9.07} {9.08} Total Materials: (9.09) Labor (9.10) Overhead (9.11) Cost of Goods Avallable (9.12) Less: Ending Inventory, Finished Goods (9.13) Cost of Goods Sold {9.14} 8. Cash Budge! Assume actual cash receipts and disbursements wil follow the pattern below: (Note: Receivables and Payables of 12/31/1 will have a cash impact in 20x2.) 1. 18.00% of sales for the year are made in November and December. Since cur customers have 60 day tarme those funds will be collected be collocted in January and Fobruary. 2. 86.00% of material purchases will be paid during the year, the remaining portion will be paid in Januay on reuruary. 3. All other manufacturing and oporating costs are paid for whon incurred. 4. The budgeted depreciation expense is equal to 0.6% of the fixed manufacturing. selling and administrative expenses. 5. Minimum Cash Balance needed for 202,$180,000. I See The Light Projected Cash Budget For the Year Ending December 31, 20x2 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 3,700 figurines at a cost of $27,128.00. Of this amount, $6,068.00 was from raw materials added, $14,040,00 for labor and $7,020,00 for overhead. These 3,700 figurines were assumed to be 30.00% complete as to labor and overhead. During January, 24,000 units were started, $38,252.00 of materials and $68,707,50 of labor costs were incurred. The 3,500 figurines that were in-process at the end of January were assumed to be 25.00% complete to labor and overhead. All figurines in January passed inspection. January (1201\} \{1202\} (12.03) \{1204\} (1206) 1206) 1207? (1208) {12.09} (12 10) (12.11) 5-Jan Purchesed 4,225 Lamp Kits is 516.35 per kit. 9.Jan 4,100 sets of Lamp Kits wore requisitioned 17-Jan Payroll of 620 Direct Labor Hours (i) $0.70 per hour. 30-Jan Payroll of 670 Direct Labor Hours at $9.95 per hour. 30-Jan 3,990 lamps were completed and shipped. All materials requisitioned were used or scrapped, and are a cost of normal processing. Round to two places. san in Cost of (130i) (1302) 1309 Coot of m (1304) Standard Job Order Costing - Variance Analysis Spocial order lamps are manufactured in division S. Because of the precise nature of the process a standard cost system has been dewoloped. The foliowing standards are used for the special crders: " Fixed ovorhead is based on expected production of 4,009 customized lamps each morth. To koep records of the actual cost of a job, a Job Ordor Coet System has been developed. Entries are made to the Job Order System at actual cost (overhead is applied based on actuad labor hours) while ontries are made to the accourting system at standard. Variance analysis is used to analyze the differences. Note: Show favorable variances as negative numbers What was the total material price variance for the Lamp Kits purchased? What was the material usage variance for Lamp Kits? What was the direct labor efficlency variance? What was the direct labor rate variance? Note: Show favorable variances as negative numbers What was the variable overhead efficiency variance? What was the variable OH spending variance? What is the fixed OH volume (denominator) variance? What is the foced OH spending variance? Capital Decision Making Big Al gives his worker's a one hour lunch and two fifteen minute breaks each day. He believes that a cold soda machine would be appreciated by his workers, and an appreciated worker is a good worker. He has priced a machine at a national member only warehouse for $1,800. The machine should be usable for 3 years, after which it would be ineficient, obsolete and would have to be disposed of at the dump. Big A believes that 9 cans a day will be purchased. The plant is open five days a week, 50 weeks per year. A case of soda (24 cans) costs $8.48 and Big A believes that a price of $.70 por can would win him good will. What is the e \{17.01\} What is the contribution marain cer can of soda? (rounded to two blaces. SH ) {17.02} How many cans of scofa mist be sold each vear to breakeven? (Round uo to zero dlaces. muth mint cans) (17.03) Acrual inoremental rach irflows from the sada machine? irounded to two olaces. stith {17.04} What is the payt (1705) If the time valus of mopey is 12% oer year what is tie net oresent value? Use the thibles on paen 16 (17.06) What is te inderra