Required information SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below) Shadee Corp. expects to sell 570 sun visors in May and 400 in June. Each visor sells for $21. Shadee's beginning and ending finished goods inventories for May are 60 and 45 units, respectively Ending finished goods inventory for June will be 65 units E8-9 (Algo) Preparing Selling and Administrative Expense Budget [LO 8-3g] 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 $2.00 each Shadee wants to have 31 closures on hand on May 1, 19 closures on May 31, and 22 closures on June 30. Additionally, Shadee's fixed manufacturing overhead is $1,300 per month and variable manufacturing overhead is $1.50 per unit produced. Each visor takes 0.60 direct labor hours to produce and Shadee pays its workers $10 per hour Additional information Selling costs are expected to be 6 percent of sales. Fixed administrative expenses per month total $1,200. 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 SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below) Shadee Corp. expects to sell 570 sun visors in May and 400 in June. Each visor sells for $21. Shadee's beginning and ending finished goods inventories for May are 60 and 45 units, respectively. Ending finished goods inventory for June will be 65 units E8-10 (Algo) Preparing Budgeted Income Statement [LO 8-3h) 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 $2.00 each. Shadee wants to have 31 closures on hand on May 1, 19 closures on May 31, and 22 closures on June 30 and variable manufacturing overhead is $1.50 per unit produced. Suppose that each visor takes 0.60 direct labor hours to produce and Shadee pays its workers $10 per hour Additional information Selling costs are expected to be 6 percent of sales. . Fixed administrative expenses per month total $1,200, Required: Complete Shadee's budgeted income statement for the months of May and June (Note: Assume that fixed overhead per unit is $100.) (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 E8-11 (Algo) Calculating Cash Receipts [LO 8-4) Shadee Corp. expects to sell 560 sun visors in May and 440 in June. Each visor sells for $11. Shadee's beginning and ending finished goods inventories for May are 75 and 50 units, respectively. Ending finished goods inventory for June will be 70 units, It expects the following unit sales for the third quarter: July August September 560 480 430 Sixty percent of Shadee's sales are cash. Of the credit sales, 52 percent is collected in the month of the sale, 38 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