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11 Required information The following information applies to the questions displayed below! Shadee Corp. expects to sell 560 sun visors in May and 330 in
11 Required information The following information applies to the questions displayed below! Shadee Corp. expects to sell 560 sun visors in May and 330 in June. Each visor sells for $21. Shadee's beginning and ending finished goods inventories for May are 65 and 60 units, respectively, Ending finished goods inventory for June will be 65 units Part 6 of 6 10 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 31 closures on hand on May 1, 20 closures on May 31, and 21 closures on June 30 and variable manufacturing overhead is $200 per unit produced, Suppose that each visor takes 0.60 direct labor hours to produce and Shades pays its workers $10 per hout. Additional information: Selling costs are expected to be 8 percent of sales Fixed administrative expenses per month total $1,400. Required: Complete Shadee's budgeted income statement for the months of May and June (Note: Assume that fowed overhead per unit is $1.00) (Do not round your intermediate calculations. Round your answers to 2 decimal places.) Answer is not complete. SHADEE CORP Budgeted Income Statement May June Dudgeted sales Budgeted Cost of Goods Sold o red roos Margin Budget Seling and Administrative Expenses Budged Net Operating income
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