2 Materials Budget Lamp Kits Needed lor Production Desired Ending Invertory Total Needed Less: Beginning inventory Total Purchases Cost per piece Cost of Purchases (Round to two places, $ wa .\#\#) \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} (8.01) (8.02) (8.03) (8.04) (s.05) (8.06) 3 Doetlabor Budaet Labor Cost Per Lamo Production Total Labor Cost (Round to two places, Ses \#\#) 4 Eectar Oneithead Rudaet Varabie Factory Overtead: Variable Factory Overtiead Cost Per Unt Number of Units to be Produced Total Variable Factory Ovectiead (Round to two places, sui ase) Faed Factory Overtead \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} (8.07) [8.08] Total Factory Ovemead (Round to two places, \$Es :F) (8.09) (8.10) (8:11) Division N has decided to develop its budget based upon projected sales of 33,000 lamps at 553.00 per lamp. The company has requested that you prepare a master budget for the year. This budget is to be used or planning and control of operations and should be composed of: 1. Production Budget 2. Materials Budget 3. Drect Labor Budget 4. Factory Overhead Budget 5. Solling and Administstive Budget 6. Cost of Goods Sold Budget 7. Budgeted inoome Stalement 8. Cash Budget votes for Budgeting The company wants to maintain the same number of units in the beginning and ending inventories of vorkin-process, and electical parts whils increasing the hwentory of Lamp Kits to 725 pleces and fecreasing the finished goods by 20%. B Cash Budgef Assume actual cash receipts and disbursements wil follow the pattem below; Note: Rectivabies and Payables of 12/31/x+ wil have a cash impact in 20xa ) 1. 23.00% of sales for the year are made in November and December. Since our customens have 60 day lems those tunds wit be colected be colected in danuary and February. 2. 89.00% of material purchases wal be paid during the year, the memaining portion wit be paid in Jaruay or Fobruary. 2. Al other manufacturing and operating costs are paid for when incumed. 4. The budpeled depreclation expense is equal to 0.6% of the foced manufacturing, seling and adminiatratve expenses. 5. Mnimum Cash Balance needed for 20.0, 5165,000 . I See The Ught Projected Cash Budget For the Year Ending December 31, 20x2 4 Eactory Oremead Budget Overtead Alocation rats based on: 1. Number of Units Total Factory Ovectead / Number of Units (Round to two places, 5=## ) \begin{tabular}{|l|l|l|} \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} (9.01) 18155 Cost of making one uni next vear Cost of one Lamp Kit Labor Cost Per Lamp Factory overtiead per unit Total cost of one unit (Round to two places, sta \begin{tabular}{|l|l|l|} \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} (9.02) (9.03) 6 Selling and Admin Budget Fixed seling Varable Selling (Round to two places, s*: *n) Fued Administrative Variable Administrative (Round to two places, swi haI) Total Selling and Administrative (Round to two places, SHW win) \begin{tabular}{|l|l|l|l|l|} \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline \end{tabular} (904) \{9.05\} (9.06) 7 Nocrust: Sol4. se fucies Round dolan to two Beginning inwentory, Finished Goods Production Costs Matenals. Lamp Kats: Beginning Inventory Purchased Avalable for Use Ending inventory of Lamp Kits Lamp Kas Used in Production Total Matonals: Labor Oventiead Cost of Coods Avalable Less Ending Inventory, Finished Goods Cost of Goods Sold places, SHW WN (9.07) (9. 04) (9,09) (9.10) (9.11) (9.12) (9.13) (9.14)