Please do not give solution in image format thanku • Selling costs are expected to be 7 percent of sales.• Fixed administrative expenses per month total $1,500.Required:Prepare Shadee's budgeted income statement for the months of May and June.Note: Do not round your intermediate calculations. Round your answers to 2 decimal places.Budgeted SalesBudgeted Cost of Goods SoldBudgeted Gross MarginAnswer is not complete.SHADEE CORPORATIONBudgeted Income StatementBudgeted Selling and Administrative ExpensesBudgeted Net Operating IncomeMayJune$ 85,860.00 $ 58,830.00$ 7,510.20 $ 5,618.10 Required informationSB Exercise E8-5 to E8-10[The following information applies to the questions displayed below.)Shadee Corporation expects to sell 540 sun shades in May and 370 in June. Each shade sells r $159. Shadee'sbeginning and ending finished goods inventories for May are 65 and 40 shades, respectively. Ending finished goodsinventory for June will be 55 shades.E8-10 (Algo) Preparing Budgeted Income Statement [LO 8-3h]Each shade requires a total of $60.00 in direct materials that includes 4 adjustable poles that cost $5.00 each. Shadee expects tohave 130 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 $13 per hour. Additionally, Shadee'sfixed manufacturing overhead is $10,000 per month, and variable manufacturing overhead is $13 per unit produced.Additional information:Selling costs are expected to be 7 percent of sales.• Fixed administrative expenses per month total $1,500.Required:Prepare Shadee's budgeted income statement for the months of May and June.Note: Do not round your intermediate calculations. Round your answers to 2 decimal places.

By creating a budgeted income statement, businesses can better understand their expected financial…

. Selling costs are expected to be 7 percent of sales. Fixed administrative expenses per month total $1,500. Required: Prepare Shadee's budgeted income statement for the months of May and June. Note: Do not round your intermediate calculations. Round your answers to 2 decimal places. Budgeted Sales Budgeted Cost of Goods Sold Budgeted Gross Margin Answer is not complete. SHADEE CORPORATION Budgeted Income Statement Budgeted Selling and Administrative Expenses Budgeted Net Operating Income May June $ 85,860.00 $ 58,830.00 $7,510.20 5,618.10

. Selling costs are expected to be 7 percent of sales. Fixed administrative expenses per month total $1,500. Required: Prepare Shadee's budgeted income statement for the months of May and June. Note: Do not round your intermediate calculations. Round your answers to 2 decimal places. Budgeted Sales Budgeted Cost of Goods Sold Budgeted Gross Margin Answer is not complete. SHADEE CORPORATION Budgeted Income Statement Budgeted Selling and Administrative Expenses Budgeted Net Operating Income May June $ 85,860.00 $ 58,830.00 $7,510.20 5,618.10

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter9: Profit Planning And Flexible Budgets

Section: Chapter Questions

Problem 66P: Operating Budget, Comprehensive Analysis Allison Manufacturing produces a subassembly used in the...

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Required information SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below.] Shadee Corporation expects to sell 590 sun shades in May and 430 in June. Each shade sells for $135. Shadee's beginning and ending finished goods inventories for May are 90 and 55 shades, respectively. Ending finished goods inventory for June will be 70 shades. E8-10 (Algo) Preparing Budgeted Income Statement [LO 8-3h) Each shade requires a total of $45.00 in direct materials that includes 4 adjustable poles that cost $10.00 each. Shadee expects to have 120 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 $15 per hour. Additionally, Shadee's fixed manufacturing overhead is $11,000 per month, and variable manufacturing overhead is $11 per unit produced. Additional information: . Selling costs are expected to be 11…
Required information SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below.] Shadee Corporation expects to sell 570 sun shades in May and 330 in June. Each shade sells for $162. Shadee's beginning and ending finished goods inventories for May are 70 and 55 shades, respectively. Ending finished goods inventory for June will be 55 shades. E8-10 (Algo) Preparing Budgeted Income Statement [LO 8-3h] 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, 90 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 $11,000 per month, and variable manufacturing overhead is $14 per unit produced. Additional information: • Selling costs are expected to be 8…
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! Required information SB Exercise E8-5 to E8-10 [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 $153. Shadee's beginning and ending finished goods inventories for May are 70 and 45 shades, respectively. Ending finished goods inventory for June will be 55 shades. E8-9 (Algo) Preparing Selling and Administrative Expense Budget [LO 8-3g] Each shade requires a total of $60.00 in direct materials that includes 4 adjustable poles that cost $10.00 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 $14 per hour. Additionally, Shadee's fixed manufacturing overhead is $11,000 per month, and variable manufacturing overhead is $11 per unit produced. ● Additional information: Selling costs are…
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SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below.] Shadee Corporation expects to sell 570 sun shades in May and 400 in June. Each shade sells for $143. Shadee's beginning and ending finished goods inventories for May are 65 and 50 shades, respectively. Ending finished goods inventory for June will be 60 shades. E8-10 (Algo) Preparing Budgeted Income Statement [LO 8-3h] 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 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 $9,000 per month, and variable manufacturing overhead is $10 per unit produced. Additional information: Selling costs are expected to be 9 percent of sales. Fixed…
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Dear Bartleby, can you please help with "calculations for cost of goods sold/operating expenses occured in the following problem, for March, April, May and June, thank you. Following are the budgeted income statements for the second quarter of 2019 for SeaTech Inc.: April May June Sales $ 112,000 $ 136,000 $ 152,000 Cost of goods sold* 76,800 91,200 100,800 Gross profit $ 35,200 $ 44,800 $ 51,200 Operating expenses† 17,600 20,000 21,600 Operating income $ 17,600 $ 24,800 $ 29,600 *Includes all product costs (i.e., direct materials, direct labor, and manufacturing overhead).†Includes all period costs (i.e., selling, general, and administrative expenses).The company expects about 40% of sales to be cash transactions. Of sales on account, 65% are expected to be collected in the first month after the sale is made, and 35% are expected to be collected in the second month after sale. Depreciation,…