Shadee Corp expects to sell 560 sun visors in May and 330 in June. Each visor...
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Shadee Corp expects to sell 560 sun visors in May and 330 in June. Each visor sells for $21. Shadee's beginning and ending finished goods inventories for May are 65 and 60 units, respectively. Ending finished goods inventory for June will be 65 units Each visor requires a total of $5.00 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 31 closures on hand on May 1, 20 closures on May 31, and 21 closures on June 30 and variable manufacturing overhead is $2.00 per unit produced. Suppose that each visor takes 0.60 direct labor hours to produce and Shadee pays its workers $10 per hour. Additional information: Selling costs are expected to be 8 percent of sales Fixed administrative expenses per month total $1,400 Required: Complete Shadee's budgeted income statement for the months of May and June. Note: Assume that fixed overhead per unit is $1.00) (Do not round your intermediate calculations. Round your answers to 2 decimal places) Budgeted Sewe Budgeted Cost of Goods Sold Answer is not complete. Budgeted Net Operating income SHADEE CORP Bugeted Groes Marge Budgeted Seting and Adv Expenses May June Shadee Corp expects to sell 560 sun visors in May and 330 in June. Each visor sells for $21. Shadee's beginning and ending finished goods inventories for May are 65 and 60 units, respectively. Ending finished goods inventory for June will be 65 units Each visor requires a total of $5.00 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 31 closures on hand on May 1, 20 closures on May 31, and 21 closures on June 30 and variable manufacturing overhead is $2.00 per unit produced. Suppose that each visor takes 0.60 direct labor hours to produce and Shadee pays its workers $10 per hour. Additional information: Selling costs are expected to be 8 percent of sales Fixed administrative expenses per month total $1,400 Required: Complete Shadee's budgeted income statement for the months of May and June. Note: Assume that fixed overhead per unit is $1.00) (Do not round your intermediate calculations. Round your answers to 2 decimal places) Budgeted Sewe Budgeted Cost of Goods Sold Answer is not complete. Budgeted Net Operating income SHADEE CORP Bugeted Groes Marge Budgeted Seting and Adv Expenses May 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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