**Shadee Corporation Budget Planning**Shadee Corporation plans to sell 580 sun shades in May and 390 in June, with each shade priced at $147. The beginning and ending inventory for May is 80 and 40 shades, respectively, and for June, the ending inventory is projected to be 65 shades.**Direct Material Costs:**- Each shade requires $60 in direct materials, including 4 adjustable poles costing $5 each.- Inventory on May 1 includes 120 direct material units, 90 poles on May 31, and 100 poles on June 30.**Labor and Overhead Costs:**- Each shade requires three direct labor hours.- Workers are paid $12 per hour.- Fixed manufacturing overhead is $12,000 monthly.- Variable manufacturing overhead is $12 per unit.**Additional Information:**- Selling costs are 11% of sales.- Fixed administrative expenses are $1,300 per month.**Task:**Prepare the budgeted income statement for May and June. Ensure calculations are rounded to two decimal places.**Shadee Corporation Budgeted Income Statement**The provided table is intended for filling budget details:- **Budgeted Sales:** Calculation of total sales revenue for May and June.- **Budgeted Cost of Goods Sold (COGS):** Costs associated with the production of shades sold.- **Budgeted Gross Margin:** The difference between total revenue and COGS.- **Budgeted Selling and Administrative Expenses:** Combines selling costs based on sales percentage and fixed administrative expenses.The table outlines the necessary fields to complete the budgeted income statement.

Name: **Shadee Corporation Budget Planning**Shadee Corporation plans to sel
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Description: **Shadee Corporation Budget Planning**Shadee Corporation plans to sell 580 sun shades in May and 390 in June, with each shade priced at $147. The beginning and ending inventory for May is 80 and 40 shades, respectively, and for June, the ending inve

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1580 sun shades in May and 390 in June. Each shade sells for $147. Shades eginning and ending finished goods inventories for May are 80 and 40 shades, respectively. Ending finished ventory for June will be 65 shades. ade requires a total of $60.00 in direct materials that includes 4 adjustable poles that cost $5.00 each. Shade O in direct materials inventory on May 1, 90 poles in inventory on May 31, and 100 poles in inventory on June 3 e that each shade takes three direct labor hour to produce and Shadee pays its workers $12 per hour. Addition manufacturing overhead is $12,000 per month, and variable manufacturing overhead is $12 per unit produced. nal information: ng costs are expected to be 11 percent of sales. administrative expenses per month total $1,300. ed: Shadee's budgeted income statement for the months of May and June. Do not round your intermediate calculations. Round your answers to 2 decimal places.

1580 sun shades in May and 390 in June. Each shade sells for $147. Shades eginning and ending finished goods inventories for May are 80 and 40 shades, respectively. Ending finished ventory for June will be 65 shades. ade requires a total of $60.00 in direct materials that includes 4 adjustable poles that cost $5.00 each. Shade O in direct materials inventory on May 1, 90 poles in inventory on May 31, and 100 poles in inventory on June 3 e that each shade takes three direct labor hour to produce and Shadee pays its workers $12 per hour. Addition manufacturing overhead is $12,000 per month, and variable manufacturing overhead is $12 per unit produced. nal information: ng costs are expected to be 11 percent of sales. administrative expenses per month total $1,300. ed: Shadee's budgeted income statement for the months of May and June. Do not round your intermediate calculations. Round your answers to 2 decimal places.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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! Required information [The following information applies to the questions displayed below.) Shadee Corporation expects to sell 610 sun shades in May and 350 in June. Each shade sells for $144. Shadee's beginning and ending finished goods inventories for May are 70 and 60 shades, respectively. Ending finished goods inventory for June will be 55 shades. 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 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 $15 per hour. Additionally, Shadee's fixed manufacturing overhead is $9,000 per month, and variable manufacturing overhead is $13 per unit produced. Use the information and solutions presented to complete the requirements. Required: 1. Determine Shadee's budgeted manufacturing cost per shade. (Note:…
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