Shadee Corp. expects to sell 540 sun visors in May and 390 in June. Each visor sells for $22. Shadee's beginning and ending finished goods inventories for May are 85 and 55 units, respectively. Ending finished goods inventory for June will be 55 units. h visor requires a total of $4.50 in direct materials that includes an adjustable closure that the company purchases from pplier at a cost of $2.00 each. Shadee wants to have 33 closures on hand on May 1, 18 ciosures on May 31, and 22 ures on June 30 and variable manufacturing overhead is $1.50 per unit produced. Suppose that each visor takes 0.40 ct labor hours to produce and Shadee pays its workers $9 per hour. itional information: • Selling costs are expected to be 8 percent of sales. Fived administrative expenses per month total $1,400.

Shadee Corp. expects to sell 540 sun visors in May and 390 in June. Each visor sells for $22. Shadee's beginning and ending finished goods inventories for May are 85 and 55 units, respectively. Ending finished goods inventory for June will be 55 units. h visor requires a total of $4.50 in direct materials that includes an adjustable closure that the company purchases from pplier at a cost of $2.00 each. Shadee wants to have 33 closures on hand on May 1, 18 ciosures on May 31, and 22 ures on June 30 and variable manufacturing overhead is $1.50 per unit produced. Suppose that each visor takes 0.40 ct labor hours to produce and Shadee pays its workers $9 per hour. itional information: • Selling costs are expected to be 8 percent of sales. Fived administrative expenses per month total $1,400.

Name: Required:Complete Shadee's budgeted income statement for the months o
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Description: Required:Complete Shadee's budgeted income statement for the months of May and June. (Note: Assume that fixed overhead perunit is $5.00.) (Do not round your intermediate calculations. Round your answers to 2 decimal places.)SHADEE CORP.Budgeted Inco

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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