PART 3
	Budgets
Division N has decided to develop its budget based upon projected sales of 43,000 lamps at
$54.00 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 650 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
	Less: Beginning Inventory
	Total Production				{7.01}