Use the information and solutions from E8-5 through E8-9 for Shadee Corp. Required:
Prepare Shadee’s budgeted income statement for the months of May and June.
Shadee Corp. expects to sell 600 sun visors in May and 800 in June. Each visor sells for $18. Shadee’s beginning and ending finished goods inventories for May are 75 and 50 units, respectively. Ending finished goods inventory for June will be 60 units.