Shadee Corporation expects to sell 500 sun shades in May and 410 in June. Each shade...
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Shadee Corporation expects to sell 500 sun shades in May and 410 in June. Each shade sells for $127. Shadee's beginning and ending finished goods inventories for May are 70 and 45 shades, respectively. Ending finished goods inventory for June will be 50 shades. E8-8 (Algo) Preparing Cost of Goods Sold Budget [LO 8-3f] Each shade requires a total of $45.00 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, 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 $10,000 per month, and variable manufacturing overhead is $10 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 $12.) 2. Prepare Shadee's budgeted cost of goods sold for May and June. Shadee Corporation expects to sell 500 sun shades in May and 410 in June. Each shade sells for $127. Shadee's beginning and ending finished goods inventories for May are 70 and 45 shades, respectively. Ending finished goods inventory for June will be 50 shades. E8-8 (Algo) Preparing Cost of Goods Sold Budget [LO 8-3f] Each shade requires a total of $45.00 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, 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 $10,000 per month, and variable manufacturing overhead is $10 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 $12.) 2. Prepare Shadee's budgeted cost of goods sold for May and June.
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Related Book For
Managerial Accounting
ISBN: 978-0078025518
2nd edition
Authors: Stacey Whitecotton, Robert Libby, Fred Phillips
Posted Date:
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