Please explain step-by-step how to work the following problems:
PROBLEM #1
PROBLEM #2
PROBLEM #3
Required information [The following information applies to the questions displayed below.] Shadee Corp. expects to sell 560 sun visors in May and 400 in June. Each visor sells for $17. Shadee's beginning and ending finished goods inventories for May are 80 and 55 units, respectively. Ending finished goods inventory for June will be 65 units. 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 $2.50 each. Shadee wants to have 33 closures on hand on May 1, 15 closures on May 31, and 23 closures on June 30 and variable manufacturing overhead is $1.50 per unit produced. Suppose that each visor takes 0.40 direct labor hours to produce and Shadee pays its workers $8 per hour. Required: 1. Determine Shadee's budgeted manufacturing cost per visor. (Note: Assume that fixed overhead per unit is $1.50.) (Round your answer to 2 decimal places.) Manufacturing Cost per Unit 2. Compute the Shadee's budgeted cost of goods sold for May and June. (Do not round your intermediate values. Use rounded cost per unit in intermediate calculations.) May June Budgeted Cost of Goods Sold Required information [The following information applies to the questions displayed below.] Shadee Corp. expects to sell 560 sun visors in May and 400 in June. Each visor sells for $17. Shadee's beginning and ending finished goods inventories for May are 80 and 55 units, respectively. Ending finished goods inventory for June will be 65 units. 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 $2.50 each. Shadee wants to have 33 closures on hand on May 1, 15 closures on May 31, and 23 closures on June 30. Additionally, Shadee's fixed manufacturing overhead is $1,500 per month, and variable manufacturing overhead is $1.50 per unit produced. Each visor takes 0.40 direct labor hours to produce and Shadee pays its workers $8 per hour. Additional information: Selling costs are expected to be 11 percent of sales. Fixed administrative expenses per month total $1,100. Required: Determine Shadee's budgeted selling and administrative expenses for May and June. (Do not round your intermediate calculations. Round your answers to 2 decimal places.) May June Budgeted Selling and Administrative Expenses Required information (The following information applies to the questions displayed below.] Shadee Corp. expects to sell 560 sun visors in May and 400 in June. Each visor sells for $17. Shadee's beginning and ending finished goods inventories for May are 80 and 55 units, respectively. Ending finished goods inventory for June will be 65 units. 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 $2.50 each. Shadee wants to have 33 closures on hand on May 1,15 closures on May 31, and 23 closures on June 30 and variable manufacturing overhead is $1.50 per unit produced. Suppose that each visor takes 0.40 direct labor hours to produce and Shadee pays its workers $8 per hour. Additional information: Selling costs are expected to be 11 percent of sales. Fixed administrative expenses per month total $1,100. Required: Complete Shadee's budgeted income statement for the months of May and June. (Note: Assume that fixed overhead per unit is $1.50.) (Do not round your intermediate calculations. Round your answers to 2 decimal places.) SHADEE CORP. Budgeted Income Statement May June Budgeted Gross Margin Budgeted Net Operating Income
