YA3213 I SEE THE LIGHT Yuksenin, when you are ready to have your work graded you will upload this file YA3213.xls or YA3213.xlsx to the same screen that the project was downloaded from: L XXXXXXXXXX...

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I only need numbers 6.02 -6.04; 11.02-11.14; 13.06- 13.07; 13.09-13.11; 15.01-15.11; 17.01-17.15; 18.01-18.04; 20.01-20.06; 21.01-21.05; 22.01-22.07


YA3213 I SEE THE LIGHT Yuksenin, when you are ready to have your work graded you will upload this file YA3213.xls or YA3213.xlsx to the same screen that the project was downloaded from: L830 160825 www.cybertext.com, The Book List, Building Blocks of Accounting--A Managerial Perspective, Enter password, Upload Your Excel File. Keep two copies of your spreadsheet in two separate places in case one of Big Al's competitors sends someone to destroy your work or it is lost in transmission. You may find it easier to work on this project if you print a hard copy of all the pages. There are alternative methods of solving problems. To insure similar answers and to guarantee that you are graded correctly please follow the instructions as to rounding. NOTE: If there are any questions about the project e-mail [email protected] or call 305.284.6296. Grade will be based upon answers entered into the shaded boxes. Elf Village Productions 50 Sheet Legal Pad Building Blocks of Accounting .. A Financial Perspective FAQ Page 1 FAQ 01 My file used to upload, why is it not uploading? Answer: Sometimes we unknowingly add items to a workbook that inhibits the upload process. The conversion to a Excel Binary Workbook (*.xlsb) version and then back to the current version generally fixes the situation. If the problem continues simple send your BINARY file as an attachment with your username and password…[email protected] Windows Operating System Select File Select Save As Select Save As Type: Select Excel Binary Workbook (*.xlsb) Select Save Select Continue or Yes if prompted or if it indicates that there is limited memory. Select File Close Select File Open and open the .xlsb file Select Save As Select Save As Type: Select Excel Workbook (*.xlsx) Select Save Upload the file at cybertext.com Apple Operating System Select File Select Save As Select Format: Select Excel Binary Workbook (*.xlsb) Select Save Select File Close Select File Open and open the .xlsb file Select Save As Select Format: Select Excel Workbook (*.xlsx) Select Save Upload the file at cybertext.com MF1234.xlsx Elf Village Productions 50 Sheet Legal Pad Building Blocks of Accounting .. A Financial Perspective FAQ Page 2 FAQ 02 What is the difference between rounding a number and rounding up a number? Answer: B C D E F 1 Cost of a Taxi 100.00$ 2 Number of Passengers 3 3 4 Cost per Passenger 5 Without rounding 33.33333 =F1/F2 6 Rounding to two decimals 33.33 =ROUND(F1/F2,2) 7 Roundup to two decimals 33.34 =ROUNDUP(F1/F2,2) FAQ 03 When I upload it, the results show that I have an answer wrong, yet that answer is needed for another question which is marked correct. Answer: The computer is giving you part credit. Given: Width 10 ft Length 12 ft Cost per sq. ft. $6 Find {1.1} Area ----- 100 sq ft (wrong) {1.2} Cost ---- $600 correct based on the wrong area. Note if the area is corrected,120 sq ft, the cost would be wrong. FIRST LAST number File Yuksenin Alba 3213 YA3213 I SEE THE LIGHT Background Information I SEE THE LIGHT (ISTL) is a subchapter S corporation that manufactures children's lamps/nightlights for use in bedrooms. These lamps are sold nationwide through a group of independent sales representatives who have an exclusive sales region. The business is in its tenth year and has asked you to assist in planning for next year's operations. The lamps are ceramic figurines of animals, boats, boys and girls playing and singing, all in delightful colors. The owner of the business, Big Al, creates a drawing for the figurine and faxes it to a plant in China where a mold is created and a sample produced and hand painted. If the mold meets the expectations of Big Al an order of 500 pieces is placed. There are presently 10 different figurines that come in six different colors; 60 models. The lamp shades and the electrical parts are supplied from domestic manufacturers. There are presently 10 workers in the plant. They are responsible for receiving the raw material, manufacturing the product, packing and shipping. In addition to Big Al there are two office workers who are responsible for all administrative duties. Big Al had his accountant prepare the Projected Income Statement and Balance Sheet presented on page two. Big Al heard about your skills in managerial accounting and would like your assistance in the following areas: Part 1 Fixed and Variable Cost Determinations - Unit Cost Calculations Part 2 Cost Volume Relationships - Profit Planning Part 3 Budgets Part 4 Process Costing Part 5 Job Order Costing Part 6 Standard Costing - Variance Analysis Part 7 Capital Decision Making To upload your work to Big Al the file without changing the name. Pay attention to the specific location that Excel saves the file. Return to the bottom of the page that you downloaded the file from; Cybertext.com, The Book List, Building Blocks of Accounting--A Managerial Perspective, Enter password, Upload Your Excel File. If you upload an old version of the file the results will not update. Keep two copies of your spreadsheet in two separate places in case one of Big Al's competitors sends someone to destroy your work or it is lost in transmission. You may find it easier to work on this project if you print a hard copy of all the pages. NOTE: If there are any questions about the project e-mail [email protected] or call 305.284.6296. Grade will be based upon answers entered into the shaded boxes. Page 2 I See The Light Projected Income Statement For the Period Ending December 31, 20x1 Sales 25,000 lamps @ $45.00 1,125,000.00$ Cost of Goods Sold @ $28.93 723,250.00 Gross Profit 401,750.00$ Selling Expenses: Fixed 23,000.00$ Variable (Commission per unit) @ $3.15 78,750.00 101,750.00$ Administrative Expenses 40,250.00 Total Selling and Administrative Expenses: 142,000.00 Net Profit 259,750.00$ I See The Light Projected Balance Sheet As of December 31, 20x1 Current Assets Cash 34,710.00$ Accounts Receivable 67,500.00 Inventory Raw Material Figurines 500 @ $9.20 4,600.00 Electrical Sets 500 @ $1.25 625.00 Work in Process 0 - Finished Goods 3000 @ $28.9250 86,775.00 Total Current Assets 194,210.00$ Fixed Assets Equipment 20,000.00$ Accumulated Depreciation 6,800.00 Total Fixed Assets 13,200.00 Total Assets 207,410.00$ Current Liabilities Accounts Payable 54,000.00$ Total Liabilities 54,000.00$ Stockholder's Equity Common Stock 12,000.00$ Retained Earnings 141,410.00 Total Stockholder's Equity 153,410.00 Total Liabilities and Stockholder's Equity 207,410.00$ Page 3 Yuksenin Alba 3589 PART 1 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: Figurines $9.2000000 per lamp Electrical Sets 1.2500000 per lamp Lamp Shade 6.0000000 per lamp Direct Labor: 2.2500000 per lamp (4 lamps/hr.) Variable Overhead: 0.2250000 per lamp Fixed Overhead: 10.0000000 per lamp (based on normal capacity of 25,000 lamps) Cost per lamp: $28.9250000 per lamp Expected increases for 20x2 When calculating projected increases round to SEVEN decimal places,$0.0000000. 1. Material Costs are expected to increase by 6.00% . 2. Labor Costs are expected to increase by 3.50%. 3. Variable Overhead is expected to increase by 6.50%. 4. Fixed Overhead is expected to increase to $300,000. 5. Fixed selling expenses are expected to be $25,000 in 20x2. 6. Variable selling expenses (measured on a per lamp basis) are expected to increase by 4.00%. 7. Fixed Administrative expenses are expected to increase by $12,000. The total administrative expenses for 20x0 were $40,005.00, when 21,500 units were sold. Use the High-Low method to calculate the total fixed administrative expense. 8. Variable administrative expenses (measured on a per lamp basis) are expected to increase by 6.00%. The total administrative expenses for 20x0 were $40,005.00, when 21,500 units were sold. Use the High-Low method to calculate the variable administrative expense per lamp. 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. Page 4 Yuksenin Alba 3589 I See The Light, Inc Schedule of Projected Costs Variable Manufacturing
Answered Same DayFeb 09, 2021

Answer To: YA3213 I SEE THE LIGHT Yuksenin, when you are ready to have your work graded you will upload this...

Preeta answered on Feb 21 2021
129 Votes
Introduction
                                        YA3213
        I SEE THE LIGHT
         Yuksenin, when you are ready to have your work graded you will upload this file                                                 YA3213.xls or YA3213.xlsx
         to the same screen that the project was downloaded from:
        L830        160825
www.cybertext.com, The Book List, Building Blocks of Accounting--A Managerial Perspective, Enter password, Upload Your Excel File.
Keep two copies of your spreadsheet in two separate places in case one of Big Al's competitors sends someone to destroy your work or it is lost in transmission.
You may find it easier to work on this project if you print a hard copy of all the pages.
There are alternative methods of solving problems. To insure similar answers and to guarantee that you are graded correctly please follow the instructions as to rounding.
NOTE:
If there are any questions about the project e-mail [email protected] or call 305.284.6296.
Grade will be based upon answers entered into the shaded boxes.
FAQ
        Elf Village Productions        50 Sheet Legal Pad
                Building Blocks of Accounting .. A Financial Perspective
                FAQ                                                                                                Page 1
        FAQ 01        My file used to upload, why is it not uploading?
        Answer:        Sometimes we unknowingly add items to a workbook that inhibits the upload process. The conversion to a Excel Binary
                Workbook (*.xlsb) version and then back to the current version generally fixes the situation. If the problem continues
                simple send your BINARY file as an attachment with your username and password…[email protected]
                Windows Operating System
                Select        File
                Select        Save As
                Select        Save As Type:
                Select        Excel Binary Workbook (*.xlsb)
                Select        Save
                Select        Continue or Yes if prompted or if it indicates that there is limited memory.
                Select        File Close
                Select        File Open          and open the .xlsb file
                Select        Save As
                Select        Save As Type:
                Select        Excel Workbook (*.xlsx)
                Select        Save
                Upload the file at cybertext.com
                Apple Operating System
                Select        File
                Select        Save As
                Select        Format:
                Select        Excel Binary Workbook (*.xlsb)
                Select        Save
                Select        File Clos
e
                Select        File Open          and open the .xlsb file
                Select        Save As
                Select        Format:
                Select        Excel Workbook (*.xlsx)
                Select        Save
                Upload the file at cybertext.com
        Elf Village Productions        50 Sheet Legal Pad
                Building Blocks of Accounting .. A Financial Perspective
                FAQ                                                                                                Page 2
        FAQ 02        What is the difference between rounding a number and rounding up a number?
        Answer:        B        C        D        E        F
        1                                Cost of a Taxi        $ 100.00
        2                                Number of Passengers        3
        3
        4                                Cost per Passenger
        5                                Without rounding        33.3333333333        =F1/F2
        6                                Rounding to two decimals        33.33        =ROUND(F1/F2,2)
        7                                Roundup to two decimals        33.34        =ROUNDUP(F1/F2,2)
        FAQ 03        When I upload it, the results show that I have an answer wrong, yet that answer is needed for another
                question which is marked correct.
        Answer:        The computer is giving you part credit.
                Given:        Width 10 ft
                        Length 12 ft
                        Cost per sq. ft. $6
                Find         {1.1} Area ----- 100 sq ft (wrong)
                        {1.2} Cost ---- $600 correct based on the wrong area.
                                        Note if the area is corrected,120 sq ft, the cost would be wrong.
1
                        FIRST        LAST        number        File
                        Yuksenin        Alba        3213        YA3213
        I SEE THE LIGHT
Background Information
I SEE THE LIGHT (ISTL) is a subchapter S corporation that manufactures children's lamps/nightlights for use in bedrooms. These lamps are sold nationwide through a group of independent sales representatives who have an exclusive sales region. The business is in its tenth year and has asked you to assist in planning for next year's operations.
The lamps are ceramic figurines of animals, boats, boys and girls playing and singing, all in delightful colors. The owner of the business, Big Al, creates a drawing for the figurine and faxes it to a plant in China where a mold is created and a sample produced and hand painted. If the mold meets the expectations of Big Al an order of 500 pieces is placed. There are presently 10 different figurines that come in six different colors; 60 models.
The lamp shades and the electrical parts are supplied from domestic manufacturers. There are presently 10 workers in the plant. They are responsible for receiving the raw material, manufacturing the product, packing and shipping. In addition to Big Al there are two office workers who are responsible for all administrative duties.
Big Al had his accountant prepare the Projected Income Statement and Balance Sheet presented on page two. Big Al heard about your skills in managerial accounting and would like your assistance in the following areas:
Part 1 Fixed and Variable Cost Determinations - Unit Cost Calculations
Part 2 Cost Volume Relationships - Profit Planning
Part 3 Budgets
Part 4 Process Costing
Part 5 Job Order Costing
Part 6 Standard Costing - Variance Analysis
Part 7 Capital Decision Making
To upload your work to Big Al the file without changing the name. Pay attention to the specific location that Excel saves the file. Return to the bottom of the page that you downloaded the file from; Cybertext.com, The Book List, Building Blocks of Accounting--A Managerial Perspective, Enter password, Upload Your Excel File. If you upload an old version of the file the results will not update.
Keep two copies of your spreadsheet in two separate places in case one of Big Al's competitors sends someone to destroy your work or it is lost in transmission.
You may find it easier to work on this project if you print a hard copy of all the pages.
NOTE:
If there are any questions about the project e-mail [email protected] or call 305.284.6296.
Grade will be based upon answers entered into the shaded boxes.
 2 
        I See The Light
        Projected Income Statement
        For the Period Ending December 31, 20x1
                Sales                         25,000 lamps        @ $45.00                        $ 1,125,000.00
                Cost of Goods Sold                                 @ $28.93                        723,250.00
                Gross Profit                                                        $ 401,750.00
                Selling Expenses:
                        Fixed                                $ 23,000.00
                        Variable                (Commission per unit)        @ $3.15        78,750.00        $ 101,750.00
                Administrative Expenses                                                40,250.00
                Total Selling and Administrative Expenses:                                                        142,000.00
                Net Profit                                                        $ 259,750.00
        I See The Light
        Projected Balance Sheet
        As of December 31, 20x1
                Current Assets
                        Cash                                                $ 34,710.00
                        Accounts Receivable                                                67,500.00
                        Inventory
                                Raw Material
                                 Figurines                500        @ $9.20                4,600.00
                                 Electrical Sets                500        @ $1.25                625.00
                                Work in Process                0                        - 0
                                Finished Goods                3000        @ $28.9250                86,775.00
                        Total Current Assets                                                $ 194,210.00
                Fixed Assets
                        Equipment                                        $ 20,000.00
                        Accumulated Depreciation                                        6,800.00
                        Total Fixed Assets                                                13,200.00
                         Total Assets                                                $ 207,410.00
                Current Liabilities
                        Accounts Payable                                                $ 54,000.00
                         Total Liabilities                                                $ 54,000.00
                Stockholder's Equity
                        Common Stock                                        $ 12,000.00
                        Retained Earnings                                        141,410.00
                         Total Stockholder's Equity                                                153,410.00
                         Total Liabilities and Stockholder's Equity                                                $ 207,410.00
Page 2
    
3
        Yuksenin Alba
        3589
        PART 1
                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:
                Figurines                $9.2000000        per lamp
                Electrical Sets                1.2500000        per lamp
                Lamp Shade                6.0000000        per lamp
                Direct Labor:                2.2500000        per lamp (4 lamps/hr.)
                Variable Overhead:                0.2250000        per lamp
                Fixed Overhead:                10.0000000        per lamp (based on normal capacity of 25,000 lamps)
                Cost per lamp:                $28.9250000        per lamp
        Expected increases for 20x2
        When calculating projected increases round to SEVEN decimal places,$0.0000000.
                1. Material Costs are expected to increase by 6.00% .
                2. Labor Costs are expected to increase by 3.50%.
                3. Variable Overhead is expected to increase by 6.50%.
                4. Fixed Overhead is expected to increase to $300,000.
                5. Fixed selling expenses are expected to be $25,000 in 20x2.
                6. Variable selling expenses (measured on a per lamp basis) are expected to increase
                 by 4.00%.
                7. Fixed Administrative expenses are expected to increase by $12,000.
                 The total administrative expenses for 20x0 were $40,005.00, when
                 21,500 units were sold. Use the High-Low method to calculate
                 the total fixed administrative expense.
                8. Variable administrative expenses (measured on a per lamp basis) are expected to
                 increase by 6.00%. The total administrative expenses for 20x0 were
                 $40,005.00, when 21,500 units were sold. Use the High-Low method to calculate
                 the variable administrative expense per lamp.
        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.
Page 3
    
4
        Yuksenin Alba
        3589
        I See The Light, Inc
        Schedule of Projected Costs
        Variable Manufacturing Unit Cost
                20x1 Cost         Projected Percent Increase         20x2 Cost Rounded to 7 Decimal Places
        Figurines        9.2        6.00%        $9.7520000        {4.01}                7
        Electrical Sets        1.25        6.00%        $1.3250000        {4.02}                7
        Lamp Shade        6        6.00%        $6.3600000        {4.03}                7
        Labor        2.25        3.50%        $2.3287500        {4.04}                7
        Variable Overhead        0.225        6.50%        $0.2396250        {4.05}                7
        Projected Variable Manufacturing Cost Per Unit        18.925                $20.0053750        {4.06}                7
        Total Variable Cost Per Unit
                20x1 Cost         Projected Percent Increase         20x2 Cost Rounded to 7 Decimal Places
        Variable Selling        3.15        4.00%        3.2760000        {4.07}                7
        Variable Administrative 20x1        0.0700000                        {4.08}                7
        Variable Administrative 20x2                6.00%        0.0742000        {4.09}                7
        Projected Variable Manufacturing Unit Cost        18.925                $20.0053750        {4.06}
        Projected Total Variable Cost Per Unit        22.075                23.3555750        {4.10}                7
        Schedule of Fixed Costs
                20x1 Cost         Projected Increase         20x2 Cost Rounded to 2 Decimal Places
        Fixed Overhead                        $ 300,000.00        {4.11}                2
         (normal capacity of _________ lamps @ __ )
        Fixed Selling                        $ 25,000.00        {4.12}                2
        Fixed Administrative 20x1        38,500.00                        {4.13}                7
        Fixed Administrative 20x2                12000        $ 50,500.00        {4.14}                2
        Projected Total Fixed Costs                        $ 375,500.00        {4.15}                2
Page 4
    
 5
        Yuksenin Alba
        3589
                PART 2
                                Cost Volume Relationships -
                                Profit Planning
                Big Al is about to begin work on the budget for 20x2 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 dollars it may be easier to find the
                number of units and then multiply by the selling price per unit.
        1.         For 20x2 the selling price per lamp will be $45.00. What is the projected contribution margin and contribution
                margin ratio for each lamp sold?
                Sales price per unit                                                        45
                less: total variable cost per unit                                                        23.355575
                Contribution Margin per unit (Round to seven places, $##.#######)                                                        $21.6444250        {5.01}                7
                Contribution Margin Ratio (Round to seven places,% is two of those places ##.#####%)                                                        48.09872%        {5.02}                7
        2.        For 20x2 the selling price per lamp will be $45.00. How many lamps must be sold to breakeven?
                Total fixed cost                                                        $ 375,500.00
                divide: contribution margin ratio                                                        48.09872%
                BE sales amount                                                        $ 780,686.06
                divide: sales price/ unit                                                        45
                Breakeven sales in units (Round up to zero places, ###,### units)                                                        17,349 units        {5.03}                0
        3.        For 20x2 the selling price per lamp will be $45.00. The desired operating income in 20x2 is $264,750 . What
                would sales in units have to be in 20x2 to reach the profit goal?
                Total fixed cost                                                        $ 375,500.00
                add: operating income                                                        264750
                total fixed cost and operating income                                                        $ 640,250.00
                divide: contribution margin                                                        48.09872%
                BE sales amount                                                        $ 1,331,116.50
                divide: sales price/ unit                                                        45
                Sales in units (Round up to zero places, ###,### units)                                                        29,581 units        {5.04}                0
Page 5
    
 6
        Yuksenin Alba
        3589
        4.        For 20x2 the selling price per lamp will be $45.00. The company would like to have a operating income equal
                to 31.00% of sales. If that is to be achieved, what would be the sales in units in 20x2?
                Sales price/ unit                                                45
                desired profit range                                                31.00%
                desired profit/ unit                                                13.95
                variable cost/ unit                                                23.355575
                total fixed cost                                                $ 375,500.00
                Sales in units (Round up to zero places, ###,### units)                                                48,802 units        {6.01}                0
        5.        If the company believed that it could only sell 25,000 lamps, what would the new selling price have to be
                so that the new contribution margin per unit is equal to last year's contribution margin per unit?
                Contribution margin/ unit of last year                                                23.355575
                total contribution margin                                                583889.375
                total fixed cost                                                $ 375,500.00
                total units                                                25000
                New Selling Price (Round up to two places, $###,###.## )                                                $ 38.38        {6.02}                2
        6.        For 20x2 the selling price per lamp will be $45.00 and the effective tax rate is 41%. How many units must be
                sold to generated a operating income of $210,000 after taxes?
                total fixed cost                                                $ 375,500.00
                add: desired operating income before taxes                                                355932.20338983
                total fixed cost and operating income                                                $ 731,432.20
                divid: contribution margin                                                0.4809872
                BE sales amont                                                $ 1,520,689.54
                divide: sales price/ unit                                                45
                Sales in units (Round up to zero places, ###,### units)                                                33,793 units        {6.03}                0
        7.        If the company believes that the demand will be 27,500 units for the year. What selling price
                per lamp, rounded to two places, would generate a operating income of $827,500?
                total fixed cost                                                $ 375,500.00
                add: desired operating income before taxes
                add: desired operating income before taxes                                                827500
                add: total variable cost                                                642278.3125
                total sales amount                                                $ 1,845,278.31
                divide: total sales units                                                $ 27,500.00
                New selling price per lamp (Round up to two places, $###,###.## )                                                $ 67.10        {6.04}                2
Page 6
    
7
        Yuksenin Alba
        3589
        PART 3
                Budgets
        Keep in mind that the budget section builds on work from the previous parts, including Part I as well as the Background Information (tabs 1-4). You should continue to use the same file with your previously submitted answers.
        Division N has decided to develop its budget based upon projected sales of 35,000 lamps at
        $50.00 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 figurines inventory to 550 pieces and
        increasing the finished goods by 27.00% .
        Complete the following budgets
        1        Production Budget
                Planned Sales                        35000
                Desired Ending Inventory of Finished Goods (roundup to the next unit)                        3810
                Total Needed                        38810
                 Less: Beginning Inventory                        3000
                Total Production                        35,810 units        {7.01}                0
Page 7
    
 8
        Yuksenin Alba
        3589
        2        Materials Budget
                Figurines
                Needed for Production                                35,810 units        {8.01}                0
                Desired Ending Inventory                                 550 units        {8.02}                0
                Total Needed                                36,360 units
                 Less: Beginning Inventory                                500 units        {8.03}                0
                Total Purchases                                35,860 units        {8.04}                0
                 Cost per piece                                9.752
                 Cost of Purchases (Round to two places, $##.##)                                $ 349,706.72        {8.05}                2
                Electrical Parts
                Needed for Production                                35810
                Desired Ending Inventory                                 500
                Total Needed                                36,310 units        {8.06}                0
                 Less: Beginning Inventory                                500
                Total Purchases                                35810
                 Cost per piece                                1.325
                 Cost of Purchases (Round to two places, $##.##)                                $ 47,448.25        {8.07}                2
                Lamp Shades - not inventoried they arrive from the shop next door Just-in-time.
                Needed for Production                                35810
                Desired Ending Inventory                                 0
                Total Needed                                35810
                 Less: Beginning Inventory                                0
                Total Purchases                                35810
                 Cost per piece                                6.36
                 Cost of Purchases (Round to two places, $##.##)                                $ 227,751.60        {8.08}                2
        3        Direct Labor Budget
                Labor Cost Per Lamp                                2.32875
                Production                                35810
                Total Labor Cost (Round to two places, $##.##)                                $ 83,392.54        {8.09}                2
        4        Factory Overhead Budget
                Variable Factory Overhead:
                 Variable Factory Overhead Cost Per Unit                                0.239625
                 Number of Units to be Produced                                35810
                Total Variable Factory Overhead (Round to two places, $##.##)                                $ 8,580.97        {8.10}                2
                Fixed Factory Overhead                                300000
                Total Factory Overhead (Round to two places, $##.##)                                $ 308,580.97        {8.11}                2
                Predetermined Factory Overhead Rate based upon the budgeted
                total factory OH, divided by the budgeted number of units to be produced, and then rounded to seven places, $##.#######)                                $ 8.61717310        {8.12}                7
Page 8
    
9
        Yuksenin Alba
        3589
        5        Selling and Admin. Budget
                Fixed Selling                                                25000
                Variable Selling (Round to two places, $##.##)                                                 114660
                Fixed Administrative                                                50500
                Variable Administrative (Round to two places, $##.##)                                                 2597
                Total Selling and Administrative (Round to two places, $##.##)                                                 $192,757.00        {9.01}                2
        6
                Cost of making one unit next year                                                Round dollars to seven places, $##.#######
                        Material cost per unit                                        17.437
                        Labor Cost Per Lamp                                        2.32875
                        Factory overhead per unit                                        8.6171731
                        Total cost of one unit                                        $ 28.38292310        {9.02}                7
                        (Round to seven places, $##.#######)
                                                                Round dollars to two places, $##.##
                Beginning Inventory, Finished Goods                                                $ 86,775.00        {9.03}                2
                Production Costs:
                 Materials:
                 Figurines:
                 Beginning Inventory                                                4600
                 Purchased                                                349706.72
                 Available for Use                                                354306.72
                 Ending Inventory of Figurines                                                5363.6
                 Figurines Used In Production                                                $ 348,943.12        {9.04}                2
                 Electrical Parts
                 Beginning Inventory                                                625
                 Purchased                                                47448.25
                 Available for Use                                                48073.25
                 Ending Inventory of Electrical Parts                                                662.5
                 Electrical Parts Used In Production                                                $ 47,410.75        {9.05}                2
                 Lamp Shades:
                 Lamp Shades Used In Production                                                $ 227,751.60        {9.06}                2
                 Total Materials:                                                $ 624,105.47        {9.07}                2
                 Labor                                                $ 83,392.54        {9.08}                2
                 Overhead                                                $ 308,580.97        {9.09}                2
                Cost of Goods Available                                                $ 1,102,853.98        {9.10}                2
                 Less: Ending Inventory, Finished Goods                                                $ 108,138.94        {9.11}                2
                Cost of Goods Sold                                                $ 994,715.04        {9.12}                2
Page 9
    
Cost of Goods Sold Budget - Assume FIFO (First-In, First-Out) and overhead is applied based on the number of units to be produced.
10
        Yuksenin Alba
        3589
        7        Budgeted Income Statement
                Sales                                35000                50                1750000
                Cost of Goods Sold                                                                $ 994,715.04
                Gross Profit                                                                $ 755,284.96
                Selling Expenses & Admin. Expenses                                                                $192,757.00
                Net Operating Income                                                                $ 562,527.96        {10.01}                2
        8        Cash Budget
        Assume 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.)
        1. 17.00% 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. 88.00% of material purchases will be paid during the year, the remaining portion will be paid in Januay or...
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