Each visor requires a total of $5.50 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $2.50 each. Shadee wants to have 35 closures on hand on May 1, 18 closures on May 31, and 22 closures on June 30. Additionally, Shadee's fixed manufacturing overhead is $1,500 per month, and variable manufacturing overhead is $1.25 per unit produced. Required: 1. Determine Shadee's budgeted cost of closures purchased for May and June. (Round your answers to 2 decimal places.) May June Budgeted Cost of Closures Purchased 2. Determine Shadee's budget manufacturing overhead for May and June. (Do not round your intermediate values. Round your answers to 2 decimal places.) May June Budgeted Manufacturing Overhead Suppose that each visor takes 0.60 direct labor hours to produce and Shadee pays its workers $8 per hour. Required: Determine Shadee's budgeted direct labor cost for May and June. (Do not round your intermediate values. Round your answers to 2 decimal places.) May June Budgeted Direct Labor Cost Shadee Corp. expects to sell 510 sun visors in May and 350 in June. Each visor sells for $14. Shadee's beginning and ending finished goods inventories for May are 85 and 55 units, respectively. Ending finished goods inventory for June will be 65 units. It expects the following unit sales for the third quarter: July August September 560 450 460 Sixty percent of Shadee's sales are cash. Of the credit sales, 54 percent is collected in the month of the sale, 36 percent is collected during the following month, and 10 percent is never collected. Required: Calculate Shadee's total cash receipts for August and September. (Do not round your intermediate calculations. Round your answers to the nearest whole dollar.) August September Total Cash Receipts Wesley Power Tools manufactures a wide variety of tools and accessories. One of its more popular items is a cordless power handisaw. Each handisaw sells for $32. Wesley expects the following unit sales: January February March April May 2,400 2,600 3,100 2,900 2,300 Wesley's ending finished goods inventory policy is 30 percent of the next month's sales. Suppose each handisaw takes approximately .60 hours to manufacture, and Wesley pays an average labor wage of $22 per hour. Each handisaw requires a plastic housing that Wesley purchases from a supplier at a cost of $6.00 each. The company has an ending raw materials inventory policy of 20 percent of the following month's production requirements. Materials other than the housing unit total $4.50 per handisaw. Manufacturing overhead for this product includes $72,000 annual fixed overhead (based on production of 27,000 units) and $1.20 per unit variable manufacturing overhead. Wesley's selling expenses are 7 percent of sales dollars, and administrative expenses are fixed at $18,000 per month. Required: 1. Compute the following for the first quarter: (Do not round your intermediate calculations.) January February March 1st Quarter total 1. $ 0 2. Budgeted Sales Revenue Budgeted Production in Units Budgeted Cost of Raw Material Purchases for the Plastic Housings Budgeted Direct Labor Cost 0 0 3. 4. 0 Red Canyon T-shirt Company operates a chain of T-shirt shops in the southwestern United States. The sales manager has provided a sales forecast for the coming year, along with the following information: Quarter 1 41,000 Quarter 2 62,000 Quarter 3 31,000 Quarter 4 62,000 Budgeted Unit Sales Each T-shirt is expected to sell for $16. The purchasing manager buys the T-shirts for $6 each. The company needs to have enough T-shirts on hand at the end of each quarter to fill 26 percent of the next quarter's sales demand. Selling and administrative expenses are budgeted at $82,000 per quarter plus 12 percent of total sales revenue. Required: 1. Determine budgeted sales revenue for each quarter. Quarter 1 Quarter 2 Quarter 3 Budgeted Sales Revenue 2. Determine budgeted cost of merchandise purchased for each quarter. Quarter 1 Quarter 2 Quarter 3 Budgeted Cost of Merchandise Purchased 3. Determine budgeted cost of good sold for each quarter. Quarter 1 Quarter 2 Quarter 3 Budgeted Cost of Goods Sold 4. Determine selling and administrative expenses for each quarter. Quarter 1 Quarter 2 Quarter 3 Budgeted Selling and Administrative Expenses