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. Required: Calculate Shadee's total cash receipts for August and September Note: Do not round your intermediate calculotions. Round your onswers to the nearest whole dollor.
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. Required: Calculate Shadee's total cash receipts for August and September Note: Do not round your intermediate calculotions. Round your onswers to the nearest whole dollor.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
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.
Required: Calculate Shadee's total cash receipts for August and September Note: Do not round your intermediate calculotions. Round your onswers to the nearest whole dollor.
![SB Exercise E8-5 to E8-10
[The following information applies to the questions displayed below]
E8-6 (Algo) Preparing Direct Materials Purchases Budget [LO 8-3c, e]
Each shade requires a total of $60.00 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.
Shadee Corporation expects to sell 620 sun shades in May and 320 in June. Each shade sells for $155. Shadee's
beginning and ending finished goods inventories for May are 90 and 60 shades, respectively. Ending finished goods
inventory for June will be 60 shades.
Required:
Prepare Shadee's May and June purchases budget for the adjustable poles.
.
.
Budgeted Cost of Closures Purchased
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 $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.
May
Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $14 per hour. Additionally, Shadee
fixed manufacturing overhead is $10,000 per month, and variable manufacturing overhead is $13 per unit produced.
Additional information:
Selling costs are expected to be 12 percent of sales.
Fixed administrative expenses per month total $1,600.
June
Budgeted Selling and Administrative Expenses
Required:
Prepare Shadee's selling and administrative expense budget for May and June
Note: Do not round your intermediate calculations. Round your answers to 2 decimal places.
May
June](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe27fe8aa-42dc-4abb-95e4-76dcbb550513%2Fc740c735-1aeb-4e87-b48f-8ed663868cff%2Fw7q1bq_processed.png&w=3840&q=75)
Transcribed Image Text:SB Exercise E8-5 to E8-10
[The following information applies to the questions displayed below]
E8-6 (Algo) Preparing Direct Materials Purchases Budget [LO 8-3c, e]
Each shade requires a total of $60.00 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.
Shadee Corporation expects to sell 620 sun shades in May and 320 in June. Each shade sells for $155. Shadee's
beginning and ending finished goods inventories for May are 90 and 60 shades, respectively. Ending finished goods
inventory for June will be 60 shades.
Required:
Prepare Shadee's May and June purchases budget for the adjustable poles.
.
.
Budgeted Cost of Closures Purchased
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 $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.
May
Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $14 per hour. Additionally, Shadee
fixed manufacturing overhead is $10,000 per month, and variable manufacturing overhead is $13 per unit produced.
Additional information:
Selling costs are expected to be 12 percent of sales.
Fixed administrative expenses per month total $1,600.
June
Budgeted Selling and Administrative Expenses
Required:
Prepare Shadee's selling and administrative expense budget for May and June
Note: Do not round your intermediate calculations. Round your answers to 2 decimal places.
May
June
Transcribed Image Text:Each shade requires a total of $60.00 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 $14 per hour. Additionally, Shadee's
fixed manufacturing overhead is $10,000 per month, and variable manufacturing overhead is $13 per unit produced.
Additional information:
Selling costs are expected to be 12 percent of sales.
Fixed administrative expenses per month total $1,600
.
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.
500
480
450
SHADEE CORPORATION
Budgeted Income Statement
Shadee Corporation expects to sell 620 sun shades in May and 390 in June. Each shades sells for $10. Shadee's beginning and
ending finished goods inventories for May are 80 and 60 shades, respectively. Ending finished goods inventory for June will be 55
shades.
It expects the following unit sales for the third quarter:
July
August
September
May
Total Cash Receipts
June
Sixty percent of Shadee's sales are cash. Of the credit sales, 50 percent is collected in the month of the sale, 36 percent is collected
during the following month, and 14 percent is never collected.
Required:
Calculate Shadee's total cash receipts for August and September.
Note: Do not round your intermediate calculations. Round your answers to the nearest whole dollar.
August
September
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