Shadee Corp. expects to sell 540 sun visors in May and 390 in June. Each visor sells for $22. Shadee's beginning and ending finished goods inventories for May are 85 and 55 units, respectively. Ending finished goods inventory for June will be 55 units. h visor requires a total of $4.50 in direct materials that includes an adjustable closure that the company purchases from pplier at a cost of $2.00 each. Shadee wants to have 33 closures on hand on May 1, 18 ciosures on May 31, and 22 ures on June 30 and variable manufacturing overhead is $1.50 per unit produced. Suppose that each visor takes 0.40 ct labor hours to produce and Shadee pays its workers $9 per hour. itional information: • Selling costs are expected to be 8 percent of sales. Fived administrative expenses per month total $1,400.

Shadee Corp. expects to sell 540 sun visors in May and 390 in June. Each visor sells for $22. Shadee's beginning and ending finished goods inventories for May are 85 and 55 units, respectively. Ending finished goods inventory for June will be 55 units. h visor requires a total of $4.50 in direct materials that includes an adjustable closure that the company purchases from pplier at a cost of $2.00 each. Shadee wants to have 33 closures on hand on May 1, 18 ciosures on May 31, and 22 ures on June 30 and variable manufacturing overhead is $1.50 per unit produced. Suppose that each visor takes 0.40 ct labor hours to produce and Shadee pays its workers $9 per hour. itional information: • Selling costs are expected to be 8 percent of sales. Fived administrative expenses per month total $1,400.

Name: Required:Complete Shadee's budgeted income statement for the months o
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Description: Required:Complete Shadee's budgeted income statement for the months of May and June. (Note: Assume that fixed overhead perunit is $5.00.) (Do not round your intermediate calculations. Round your answers to 2 decimal places.)SHADEE CORP.Budgeted Inco

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Shadee Corporation expects to sell 610 sun shades in May and 400 in June. Each shade sells for $148. Shadee's beginning and ending finished goods inventories for May are 65 and 40 shades, respectively. Ending finished goods inventory for June will be 55 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 120 in direct materials inventory on May 1, 100 poles in inventory on May 31, and 120 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 $9,000 per month, and variable manufacturing overhead is $14 per unit produced. Additional information: Selling costs are expected to be 9 percent of sales. Fixed administrative expenses per month total $1,200. Required: Prepare Shadee's budgeted income statement for the months of May and June. Note: Do not round your…
! Required information [The following information applies to the questions displayed below.] Shadee Corporation expects to sell 560 sun shades in May and 330 in June. Each shade sells for $151. Shadee's beginning and ending finished goods inventories for May are 80 and 50 shades, respectively. Ending finished goods inventory for June will be 70 shades. Each shade requires a total of $55.00 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, 100 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 $12,000 per month, and variable manufacturing overhead is $14 per unit produced. Additional information: Selling costs are expected to be 7 percent of sales. • Fixed administrative expenses per month total $1,700. Required:…
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! Required information [The following information applies to the questions displayed below.] Shadee Corporation expects to sell 500 sun shades in May and 390 in June. Each shade sells for $144. Shadee's beginning and ending finished goods inventories for May are 80 and 60 shades, respectively. Ending finished goods inventory for June will be 70 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 130 in direct materials inventory on May 1, 100 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 $15 per hour. Additionally, Shadee's fixed manufacturing overhead is $8,000 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 $1,600. Required:…
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