Shadee Corporation expects to sell 580 sun shades in May and 390 in June. Each shade sells for $147. Shadee'sbeginning and ending finished goods inventories for May are 80 and 40 shades, respectively. Ending finished goodsinventory for June will be 65 shades.Each shade requires a total of $60.00 in direct materials that includes 4 adjustable poles that cost $5.00 each. Shadee expects tohave 120 in direct materials inventory on May 1, 90 poles in inventory on May 31, and 100 poles in inventory on June 30.Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $12 per hour. Additionally, Shadee'sfixed manufacturing overhead is $12,000 per month, and variable manufacturing overhead is $12 per unit produced.Additional information:• Selling costs are expected to be 11 percent of sales.. Fixed administrative expenses per month total $1,300.Required:Prepare Shadee's budgeted income statement for the months of May and June.Note: Do not round your intermediate calculations. Round your answers to 2 decimal places.Budgeted SalesBudgeted Cost of Goods SoldSHADEE CORPORATIONBudgeted Income StatementBudgeted Gross MarginBudgeted Selling and Administrative ExpensesMayJune

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Description: Shadee Corporation expects to sell 580 sun shades in May and 390 in June. Each shade sells for $147. Shadee'sbeginning and ending finished goods inventories for May are 80 and 40 shades, respectively. Ending finished goodsinventory for June will be

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1580 sun shades in May and 390 in June. Each shade sells for $147. Shades eginning and ending finished goods inventories for May are 80 and 40 shades, respectively. Ending finished ventory for June will be 65 shades. ade requires a total of $60.00 in direct materials that includes 4 adjustable poles that cost $5.00 each. Shade O in direct materials inventory on May 1, 90 poles in inventory on May 31, and 100 poles in inventory on June 3 e that each shade takes three direct labor hour to produce and Shadee pays its workers $12 per hour. Addition manufacturing overhead is $12,000 per month, and variable manufacturing overhead is $12 per unit produced. nal information: ng costs are expected to be 11 percent of sales. administrative expenses per month total $1,300. ed: Shadee's budgeted income statement for the months of May and June. Do not round your intermediate calculations. Round your answers to 2 decimal places.

1580 sun shades in May and 390 in June. Each shade sells for $147. Shades eginning and ending finished goods inventories for May are 80 and 40 shades, respectively. Ending finished ventory for June will be 65 shades. ade requires a total of $60.00 in direct materials that includes 4 adjustable poles that cost $5.00 each. Shade O in direct materials inventory on May 1, 90 poles in inventory on May 31, and 100 poles in inventory on June 3 e that each shade takes three direct labor hour to produce and Shadee pays its workers $12 per hour. Addition manufacturing overhead is $12,000 per month, and variable manufacturing overhead is $12 per unit produced. nal information: ng costs are expected to be 11 percent of sales. administrative expenses per month total $1,300. ed: Shadee's budgeted income statement for the months of May and June. Do not round your intermediate calculations. Round your answers to 2 decimal places.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 1PA: Lens Junction sells lenses for $45 each and is estimating sales of 15,000 units in January and...

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Shadee Corporation expects to sell 620 sun shades in May and 440 in June. Each shade sells for $137. Shadee's beginning and ending finished goods inventories for May are 60 and 50 shades, respectively. Ending finished goods inventory for June will be 60 shades. Each shade requires a total of $50.00 in direct materials that includes 4 adjustable poles that cost $10.00 each. Shadee expects to have 120 in direct materials inventory on May 1, 90 poles in inventory on May 31, and 110 poles in inventory on June 30. Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $12 per hour. Additionally, Shadee's fixed manufacturing overhead is $12,000 per month, and variable manufacturing overhead is $14 per unit produced. Additional information: . Selling costs are expected to be 8 percent of sales. . Fixed administrative expenses per month total $1,400. Required: Prepare Shadee's budgeted income statement for the months of May and June. Note: Do not round…
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Shadee Corporation expects to sell 600 sun shades in May and 800 in June. Each shade sells for $180. Shadee’s beginning and ending finished goods inventories for May are 75 and 50 shades, respectively. Ending finished goods inventory for June will be 60 shades. Each shade requires a total of $40 in direct materials that includes 4 adjustable poles that cost $5.00 each. Shadee expects to have 120 poles in direct materials inventory on May 1, 80 poles in inventory on May 31, and 100 poles in inventory on June 30. Suppose that each shade takes three direct labor hours to produce and Shadee pays its workers $9 per hour. Additional information: Selling costs are expected to be 6 percent of sales. Fixed administrative expenses per month total $12,000. Required: Prepare Shadee’s selling and administrative expense budget for May and June. Note:- • Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. • Answer completely. • You will get up…
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Shadee Corporation expects to sell 600 sun shades in May and 800 in June. Each shade sells for $180. Shadee’s beginning and ending finished goods inventories for May are 75 and 50 shades, respectively. Ending finished goods inventory for June will be 60 shades. Each shade requires a total of $40 in direct materials that includes 4 adjustable poles that cost $5.00 each. Shadee expects to have 120 poles in direct materials inventory on May 1, 80 poles in inventory on May 31, and 100 poles in inventory on June 30. Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $9 per hour. Additionally, Shadee’s fixed manufacturing overhead is $10,000 per month, and variable manufacturing overhead is $13 per unit produced. Additional information: Selling costs are expected to be 6 percent of sales. Fixed administrative expenses per month total $12,000. Required: Prepare Shadee’s budgeted income statement for the months of May and June. Everyhting else is…
Shadee Corporation expects to sell 640 sun shades in May and 420 in June. Each shade sells for $157. Shadee's beginning and ending finished goods inventories for May are 80 and 45 shades, respectively. Ending finished goods inventory for June will be 60 shades. Each shade requires a total of $55.00 in direct materials that includes 4 adjustable poles that cost $5.00 each. Shadee expects to have 130 in direct materials inventory on May 1, 90 poles in inventory on May 31, and 110 poles in inventory on June 30. Required: Prepare Shadee's May and June purchases budget for the adjustable poles.
Shadee Corporation expects to sell 640 sun shades in May and 340 in June. Each shade sells for $162. Shadee's beginning and ending finished goods inventories for May are 70 and 40 shades, respectively. Ending finished goods inventory for June will be 60 shades. Each shade requires a total of $60.00 in direct materials that includes 4 adjustable poles that cost $10.00 each. Shadee expects to have 130 in direct materials inventory on May 1, 80 poles in inventory on May 31, and 110 poles in inventory on June 30. Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $14 per hour. Additionally, Shadee's fixed manufacturing overhead is $11,000 per month, and variable manufacturing overhead is $15 per unit produced. Use the information and solutions presented to complete the requirements. Required: 1. Determine Shadee's budgeted manufacturing cost per shade. (Note: Assume that fixed overhead per unit is $16.) 2. Prepare Shadee's budgeted cost of goods…
Shadee Corporation expects to sell 630 sun shades in May and 320 in June. Each shade sells for $162. Shadee's beginning and ending finished goods inventories for May are 60 and 50 shades, respectively. Ending finished goods inventory for June will be 55 shades. Each shade requires a total of $60.00 in direct materials that includes 4 adjustable poles that cost $5.00 each. Shadee expects to have 130 in direct materials inventory on May 1, 80 poles in inventory on May 31, and 110 poles in inventory on June 30. Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $15 per hour. Additionally, Shadee's fixed manufacturing overhead is $10,000 per month, and variable manufacturing overhead is $10 per unit produced. Additional information: • Selling costs are expected to be 10 percent of sales. • Fixed administrative expenses per month total $1,300. Required: Prepare Shadee's budgeted income statement for the months of May and June. Note: Do not round…
Shadee Corporation expects to sell 630 sun shades in May and 320 in June. Each shade sells for $162. Shadee's beginning and ending finished goods inventories for May are 60 and 50 shades, respectively. Ending finished goods inventory for June will be 55 shades. Each shade requires a total of $60.00 in direct materials that includes 4 adjustable poles that cost $5.00 each. Shadee expects to have 130 in direct materials inventory on May 1, 80 poles in inventory on May 31, and 110 poles in inventory on June 30. Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $15 per hour. Additionally, Shadee's fixed manufacturing overhead is $10,000 per month, and variable manufacturing overhead is $10 per unit produced. Additional information: Selling costs are expected to be 10 percent of sales. Fixed administrative expenses per month total $1,300. Required: Prepare Shadee's selling and administrative expense budget for May and June. Note: Do not round your…