Required information SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below! Shadee Corp. expects to sell 610 sun visors in May and 440 in June. Each visor sells for $24. Shadee's beginning and ending finished goods inventories for May are 70 and 45 units, respectively. Ending finished goods inventory for June will be 65 units. E8-9 (Algo) Preparing Selling and Administrative Expense Budget (LO 8-39) Each visor requires a total of $5,50 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $2.00 each. Shadee wants to have 26 closures on hand on May 1, 15 closures on May 31, and 28 closures on June 30. Additionally, Shadee's fixed manufacturing overhead is $1100 per month, and variable manufacturing overhead is $2.25 per unit produced. Each visor takes 0.40 direct labor hours to produce and Shadee pays its workers $8 per hour Additional information: Seling costs are expected to be 7 percent of sales Fixed administrative expenses per month total $1,500. Required: Determine Shadee's budgeted selling and administrative expenses for May and June. (Do not round your intermediate calculations. Round your answers to 2 decimal places.) E8-9 (Algo) Preparing Selling and Administrative Expense Budget [LO 8-3g) Each visor requires a total of $5.50 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $2.00 each. Shadee wants to have 26 closures on hand on May 1, 15 closures on May 31, and 28 closures on June 30. Additionally. Shadee's fixed manufacturing overhead is $1,100 per month, and variable manufacturing overhead is $2.25 per unit produced. Each visor takes 0.40 direct labor hours to produce and Shadee pays its workers $8 per hour. Additional information: Selling costs are expected to be 7 percent of sales. Fixed administrative expenses per month total $1,500, Required: Determine Shadee's budgeted selling and administrative expenses for May and June. (Do not round your intermediate calculations. Round your answers to 2 decimal places.) May June Budgeted Selling and Administrative Expenses Each visor requires a total of $5.50 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $2.00 each. Shadee wants to have 26 closures on hand on May 1, 15 closures on May 31, and 28 closures on June 30 and variable manufacturing overhead is $2.25 per unit produced. Suppose that each visor takes 0.40 direct labor hours to produce and Shadee pays its workers $8 per hour. Additional information: . Selling costs are expected to be 7 percent of sales. Fixed administrative expenses per month total $1.500 Required: Complete Shadee's budgeted income statement for the months of May and June. (Note: Assume that fixed overhead per unit is $5.00) (Do not round your intermediate calculations. Round your answers to 2 decimal places.) Required: Complete Shadee's budgeted income statement for the months of May and June. (Note: Assume that fixed overhead per unit is $5.00) (Do not round your intermediate calculations. Round your answers to 2 decimal places.) SHADEE CORP Budgeted Income Statement May June Budgeted Gross Margin Budgeted Net Operating Income Required information SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below! Shadee Corp. expects to sell 610 sun visors in May and 440 in June. Each visor sells for $24. Shadee's beginning and ending finished goods inventories for May are 70 and 45 units, respectively. Ending finished goods inventory for June will be 65 units. E8-9 (Algo) Preparing Selling and Administrative Expense Budget (LO 8-39) Each visor requires a total of $5,50 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $2.00 each. Shadee wants to have 26 closures on hand on May 1, 15 closures on May 31, and 28 closures on June 30. Additionally, Shadee's fixed manufacturing overhead is $1100 per month, and variable manufacturing overhead is $2.25 per unit produced. Each visor takes 0.40 direct labor hours to produce and Shadee pays its workers $8 per hour Additional information: Seling costs are expected to be 7 percent of sales Fixed administrative expenses per month total $1,500. Required: Determine Shadee's budgeted selling and administrative expenses for May and June. (Do not round your intermediate calculations. Round your answers to 2 decimal places.) E8-9 (Algo) Preparing Selling and Administrative Expense Budget [LO 8-3g) Each visor requires a total of $5.50 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $2.00 each. Shadee wants to have 26 closures on hand on May 1, 15 closures on May 31, and 28 closures on June 30. Additionally. Shadee's fixed manufacturing overhead is $1,100 per month, and variable manufacturing overhead is $2.25 per unit produced. Each visor takes 0.40 direct labor hours to produce and Shadee pays its workers $8 per hour. Additional information: Selling costs are expected to be 7 percent of sales. Fixed administrative expenses per month total $1,500, Required: Determine Shadee's budgeted selling and administrative expenses for May and June. (Do not round your intermediate calculations. Round your answers to 2 decimal places.) May June Budgeted Selling and Administrative Expenses Each visor requires a total of $5.50 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $2.00 each. Shadee wants to have 26 closures on hand on May 1, 15 closures on May 31, and 28 closures on June 30 and variable manufacturing overhead is $2.25 per unit produced. Suppose that each visor takes 0.40 direct labor hours to produce and Shadee pays its workers $8 per hour. Additional information: . Selling costs are expected to be 7 percent of sales. Fixed administrative expenses per month total $1.500 Required: Complete Shadee's budgeted income statement for the months of May and June. (Note: Assume that fixed overhead per unit is $5.00) (Do not round your intermediate calculations. Round your answers to 2 decimal places.) Required: Complete Shadee's budgeted income statement for the months of May and June. (Note: Assume that fixed overhead per unit is $5.00) (Do not round your intermediate calculations. Round your answers to 2 decimal places.) SHADEE CORP Budgeted Income Statement May June Budgeted Gross Margin Budgeted Net Operating Income