Required information SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below.] Shadee Corp. expects to sell 570 sun visors in May and 330 in June. Each visor sells for $23. Shadee's beginning and ending finished goods inventories for May are 85 and 50 units, respectively. Ending finished goods inventory for June will be 65 units. E8-6 (Algo) Preparing Direct Materials Purchases and Manufacturing Overhead Budgets [LO 8-3c, e] 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 29 closures on hand on May 1, 19 closures on May 31, and 21 closures on June 30. Additionally, Shadee's fixed manufacturing overhead is $1,000 per month, and variable manufacturing overhead is $2.25 per unit produced. Required: 1. Determine Shadee's budgeted cost of closures purchased for May and June. 2. Determine Shadee's budget manufacturing overhead for May and June.

Required information SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below.] Shadee Corp. expects to sell 570 sun visors in May and 330 in June. Each visor sells for $23. Shadee's beginning and ending finished goods inventories for May are 85 and 50 units, respectively. Ending finished goods inventory for June will be 65 units. E8-6 (Algo) Preparing Direct Materials Purchases and Manufacturing Overhead Budgets [LO 8-3c, e] 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 29 closures on hand on May 1, 19 closures on May 31, and 21 closures on June 30. Additionally, Shadee's fixed manufacturing overhead is $1,000 per month, and variable manufacturing overhead is $2.25 per unit produced. Required: 1. Determine Shadee's budgeted cost of closures purchased for May and June. 2. Determine Shadee's budget manufacturing overhead for May and June.

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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Accepting Business at a Special Price Forever Ready Company expects to operate at 82% of productive capacity during May. The total manufacturing costs for May for the production of 27,880 batteries are budgeted as follows: Direct materials $303,300 Direct labor 111,500 Variable factory overhead 31,280 Fixed factory overhead 62,000 Total manufacturing costs $508,080 The company has an opportunity to submit a bid for 3,000 batteries to be delivered by May 31 to a government agency. If the contract is obtained, it is anticipated that the additional activity will not interfere with normal production during May or increase the selling or administrative expenses. What is the unit cost below which Forever Ready Company should not go in bidding on the government contract? Round your answer to two decimal places.$fill in the blank 1 per unit
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Exercise 13-31 (Algo) Estimate Production and Materials Requirements (LO 13-4) The Casings Plant of Wyoming Machines makes plastics shells for the company’s calculators. (Each calculator requires one shell.) For each of the next two years, Wyoming expects to sell 670,000 calculators. The beginning finished goods inventory of shells at the Casings Plant is 90,000 units. However, the target ending finished goods inventory for each year is 25,000 units. Each unit (shell) requires 6 ounces of plastic. At the beginning of the year, 270,000 ounces of plastic are in inventory. Management has set a target to have plastic on hand equal to four months’ sales requirements. Sales and production take place evenly throughout the year. Required: a. Compute the total targeted production of the finished product for the coming year. b. Compute the required amount of plastic to be purchased for the coming year. (Do not round intermediate calculations.)
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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 610 sun shades in May and 400 in June. Each shade sells for $160. Shadee's beginning and ending finished goods inventories for May are 80 and 55 shades, respectively. Ending finished goods inventory for June will be 60 shades. E8-7 (Algo) Preparing Direct Labor and Manufacturing Overhead Budgets [LO 8-3d] 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 $10,000 per month, and variable manufacturing overhead is $10 per unit produced. Required: 1. Prepare Shadee's direct labor budget for May and June. 2. Prepare Shadee's manufacturing overhead budget for May and June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare Shadee's direct labor budget for May and June. Note: Do not…
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Required information Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,200 units (solar panels) in July and 4,600 units in August. Each unit requires 4 pounds of direct materials, which cost $6 per pound. The company’s policy is to maintain direct materials inventory equal to 40% of the next month’s direct materials requirement. As of June 30, the company has 6,720 pounds of direct materials in inventory, which complies with the policy. Prepare a direct materials budget for July. MIAMI SOLAR Direct Materials Budget For Month Ended July 31 Budget production (units) 4,200 Materials needed for production (lbs.) Total materials requirements (lbs.) Materials to be purchased (lbs.) Budgeted cost of direct materials purchases
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