50.1K

Verified Solution

Link Copied!

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: Expected increases for 202 When calculating projected increases round to TWO ($0.00) decimal places. 1. Material Costs are expected to increase by 4.50%. 2. Labor Costs are expected to increase by 3.50%. 3. Variable Overhead is expected to increase by 5.50%. 4. Fixed Overhead is expected to increase to $285,000. 5. Foxed Administrative expenses are expected to increase to $48,000. 6. Variable selling expenses (measured on a per lamp basis) are expected to increase by 6.50%. 7. Fixed selling expenses are expected to be $23,000 in 202. 8. Variable administrative expenses (measured a per lamp basis) are expected tof increase by 5.50%. On the following schedule develop the following figures: 1. 202 Projected Variable Manufacturing Unit Cost of a lamp. 2. 202 Projected Variable Unit Cost per lamp. I See The Light, Inc Schedule of Proiprted Cocte For the Period Ending December 31, 20x1 Sales Cost of Goods Sold Gross Profit Selling Expenses: Foxed Variable Administrative Expenses: Foxed Variable Total Selling and Administrative Expenses: Net Profit 25,000 lamps @ $45.00 (a) $30.00 $1,125,000,00 750,000.00 S 375,000.00 $42,000,00 (ig) $2.0050,000.00 92,000.00 \begin{tabular}{l} 190,000.00 \\ \hline$185,000.00 \\ \hline \hline \end{tabular} I See The Light Projected Balance Sheet As of December 31, 20x1 Cument Assets Cash Accounts Recelivable Inventory Raw Material Lamp Kits Work in Process Finished Goods Total Cument Assets Fixed Assets Equipment Accumulated Depreciation Total Fixed Assets Total Assets Cument Liabities Accounts Payable Total Llablities Stockhoider's Equity Common Stock Retained Eamings Total Stockholder's Equity Total Llablities and Stockholder's Equity \$ 34,710.00 67.500 .00 500 \& $16.00 3000 (C) $30.00 8,000.00 90,000,00200,210.00 S 20,000.00 6,800.00 \begin{tabular}{cr} $54,000.00 \\ \hline$ & 54,000.00 \end{tabular} S12,000.00147,410,00 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: Expected increases for 202 When calculating projected increases round to TWO ($0.00) decimal places. 1. Material Costs are expected to increase by 4.50%. 2. Labor Costs are expected to increase by 3.50%. 3. Variable Overhead is expected to increase by 5.50%. 4. Fixed Overhead is expected to increase to $285,000. 5. Foxed Administrative expenses are expected to increase to $48,000. 6. Variable selling expenses (measured on a per lamp basis) are expected to increase by 6.50%. 7. Fixed selling expenses are expected to be $23,000 in 202. 8. Variable administrative expenses (measured a per lamp basis) are expected tof increase by 5.50%. On the following schedule develop the following figures: 1. 202 Projected Variable Manufacturing Unit Cost of a lamp. 2. 202 Projected Variable Unit Cost per lamp. I See The Light, Inc Schedule of Proiprted Cocte For the Period Ending December 31, 20x1 Sales Cost of Goods Sold Gross Profit Selling Expenses: Foxed Variable Administrative Expenses: Foxed Variable Total Selling and Administrative Expenses: Net Profit 25,000 lamps @ $45.00 (a) $30.00 $1,125,000,00 750,000.00 S 375,000.00 $42,000,00 (ig) $2.0050,000.00 92,000.00 \begin{tabular}{l} 190,000.00 \\ \hline$185,000.00 \\ \hline \hline \end{tabular} I See The Light Projected Balance Sheet As of December 31, 20x1 Cument Assets Cash Accounts Recelivable Inventory Raw Material Lamp Kits Work in Process Finished Goods Total Cument Assets Fixed Assets Equipment Accumulated Depreciation Total Fixed Assets Total Assets Cument Liabities Accounts Payable Total Llablities Stockhoider's Equity Common Stock Retained Eamings Total Stockholder's Equity Total Llablities and Stockholder's Equity \$ 34,710.00 67.500 .00 500 \& $16.00 3000 (C) $30.00 8,000.00 90,000,00200,210.00 S 20,000.00 6,800.00 \begin{tabular}{cr} $54,000.00 \\ \hline$ & 54,000.00 \end{tabular} S12,000.00147,410,00

Answer & Explanation Solved by verified expert

See Answer