the first 7 pages are information for the yellow boxes for 10.01-10.1! please only answer the yellow boxes

just answer 10.01 through 10.1

I See The Light Projected Income Statement For the Period Ending December 31, 20x1 $ 1,125,000.00 750,000.00 $ 375,000.00 Sales 25,000 lamps @ $45.00 Cost of Goods Sold @ $30.00 Gross Profit Selling Expenses: Fixed Variable (Commission per unit) @ $3.00 Administrative Expenses: Fixed Variable @ $2.00 Total Selling and Administrative Expenses: Net Profit $ 23,000.00 75,000.00 $ 98,000.00 $42,000.00 50,000.00 92,000.00 190,000.00 $ 185,000.00 I See The Light Projected Balance Sheet As of December 31, 20x1 $ 34,710.00 67,500.00 Current Assets Cash Accounts Receivable Inventory Raw Material Lamp Kits Work in Process Finished Goods Total Current Assets 8,000.00 500 @ $16.00 0 3000 @ $30.00 90,000.00 $ 200,210.00 Fixed Assets Equipment Accumulated Depreciation Total Fixed Assets Total Assets $ 20,000.00 6,800.00 13,200.00 $ 213,410.00 $ $ 54,000.00 54,000.00 Current Liabilities Accounts Payable Total Liabilities Stockholder's Equity Common Stock Retained Earnings Total Stockholder's Equity Total Liabilities and Stockholder's Equity $ 12,000.00 147.410.00 159.410.00 $ 213.410.00 Fixed and Variable Cost Determinations Unit Cost Calculations 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 Direct Labor Variable Overhead: Fixed Overhead: $16.0000000 per lamp 2.0000000 per lamp (4 lamps/hr.) 20000000 per lamp 10.0000000 per lamp (based on normal capacity of 25,000 lamps) Cost per lamp: $30.0000000 per lamp 6 Expected increases for 20x2 37 When calculating projected increases round to TWO ($0.00) decimal places 26 1. Material Costs are expected to increase by 5.00% 47 48 49 2. Labor Costs are expected to increase by 3.50% 50 59 3. Variable Overhead is expected to increase by 3.00%. 60 61 4. Fixed Overhead is expected to increase to $275,000 62 63 5. Fixed Administrative expenses are expected to increase to $50,000 72 73 6. Variable selling expenses (measured on a per lamp basis) are expected to increase 74 by 4.50% 75 76 7. Fixed selling expenses are expected to be $29,000 in 20x2 85 86 8. Variable administrative expenses (measured a per lamp basis) are expected to 87 increase by 2.00% 89 On the following schedule develop the following figures 98 1- 20x2 Projected Variable Manufacturing Unit Cost of a lamp 99 100 2- 20x2 Projected Variable Unit Cost per lamp 101 102 3- 20x2 Projected Fixed Costs. 61111 Variable Manufacturing Unit Cost 20x1 Cost Projected Percent Increase 20x2 Cost Rounded to 2 Decimal Places Lamp Kit Labor Variable Overhead $16.80 $2.07 $2.06 {4.01) (4.02) (4.03) Projected Variable Manufacturing Cost Per Unit $20.93 (4.04) Total Variable Cost Per Unit 20x 1 Cost Projected Percent Increase 20x2 Cost Rounded to 2 Decimal Places Variable Selling Variable Administrative Projected Variable Manufacturing Unit Cost 3.14 2.04 20.93 14.05) (406) (4.04) Projected Total Variable Cost Per Unit 26.11 (407) Schedule of Fixed Costs 20x1 Cost 20x2 Cost Projected Percent Increase $ 275,000.00 Fixed Overhead (normal capacity of Fixed Selling Fixed Administrative lamps @_) {4.08) $ $ 29,000.00 50,000.00 (4.09) [4.10) e Projected Total Fixed Costs $ 354,000.00 [4.11] Division N has decided to develop its budget based upon projected sales of 31,000 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 600 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 30.400 units (7.01) 2 Matenals 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, S##.##) 30.400 units 600 units 31.000 units 500 units {8.01) {8.02} {8.03) {8.04 $ $ 16.80 512.400.00 {8.05) {8.06) 3 Direct Labor Budget 2.07 {8.07) Labor Cost Per Lamp Production Total Labor Cost (Round to two places, S#####) $ 62.928,00 {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, S##.##) Fixed Factory Overhead $ $ 62,62400 275,000.00 {8.09) {8.10) Total Factory Overhead (Round to two places, S### ###) $ 337.624.00 {8.11) B Factory Overhead Budget Overhead Allocation rate based on: 1. Number of Units Total Factory Overhead/Number of Units (Round to two places, S##.##) $11.11 {9.01) $2.07 19.02) 5 Cost of making one unit next year Cost of one Lamp Kit Labor Cost Per Lamp Factory overhead per unit $29.98 {9.03) Total cost of one unit (Round to two places, S####) 6 Selling and Admin Budget $97,340.00 {9.04) Fixed Selling Variable Selling (Round to two places, S##.##) Fixed Administrative Variable Administrative (Round to two places, S##.##) Total Selling and Administrative (Round to two places, $####) $ $ 63,240.00 239,580.00 (9.05) {9.06) Sold Round dollars to two places, S#### $ 90,000.00 (9.07) LOSTOL Goods 7 3 Budget 8 Beginning inventory, Finished Goods 0 Production Costs: 1 Materials: -6 Lamp Kits -7 Beginning Inventory 8 Purchased 39 Available for Use 70 Ending Inventory of Lamp Kits Lamp Kits Used in Production 76 88 Total Materials 89 Labor 90 Overhead 91 Cost of Goods Available 92 Less Ending Inventory, Finished Goods 93 Cost of Goods Sold 94 95 $ 10,080.00 {9.08) $ $ 510,320.00 62,928.00 (9.09) {9.10) [9.11) (9.12) 1913) 19.14 $ $ $ 1,240,297.00 71,952.00 1,168,345.00 Sales Cost of Goods Sold Gross Proft Selling Expenses & Admin. Expenses Net Income (10.01) 8 Cash Budget Assume actual cash receipts and disbursements will follow the pattern below: (Note: Receivables and Payables of 12/31x1 will have a cash impact in 20x2.) 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 2 86.00% 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. 4. The budgeted depreciation expense is equal to 0.6% of the foxed manufacturing, selling and administrative expenses. 5. Minimum Cash Balance needed for 20x2, $160,000 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) Sales made and collected in 20x2 Cash Available {10.021 {10.03) (10.04) 5 7 {10.05) 4 5 6 7 Cash Outflows: Purchases Accounts Payable (Purchases last year) Purchases made and paid for in 20x2 Other Manufacturing Costs Direct Labor Total Manufacturing Overhead Selling and Administrative Less Depreciation Total Cash Outflows 14 25 33 37 (10.06) (10.07) (10.08) Budgeted Cash Balance before financing Needed Minimum Balance Amount to be borrowed (if any) (1009) 39 100 101 02 103 Budgeted Cash Balance (10.10)