Required information [The following information applies to the questions displayed below.] Shadee Corp. expects to sell 510 sun visors in May and 380 in June. Each visor sells for $28. Shadee's beginning and ending finished goods inventories for May are 70 and 45 units, respectively. Ending finished goods inventory for June will be 70 units. Each visor requires a total of $4.50 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $1.50 each. Shadee wants to have 35 closures on hand on May 1, 17 closures on May 31, and 21 closures on June 30. Additionally, Shadee's fixed manufacturing overhead is $1,400 per month, and variable manufacturing overhead is $2.25 per unit produced. Each visor takes 0.60 direct labor hours to produce and Shadee pays its workers $8 per hour. Additional information: Selling costs are expected to be 10 percent of sales. Fixed administrative expenses per month total $1,600. 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 510 sun visors in May and 380 in June. Each visor sells for $28. Shadee's beginning and ending finished goods inventories for May are 70 and 45 units, respectively. Ending finished goods inventory for June will be 70 units. Each visor requires a total of $4.50 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $1.50 each. Shadee wants to have 35 closures on hand on May 1, 17 closures on May 31, and 21 closures on June 30 and variable manufacturing overhead is $2.25 per unit produced. Suppose that each visor takes 0.60 direct labor hours to produce and Shadee pays its workers $8 per hour. Additional information: Selling costs are expected to be 10 percent of sales. Fixed administrative expenses per month total $1,600. Required: Complete Shadee's budgeted income statement for the months of May and June. (Note: Assume that fixed overhead per unit is $7.00.) (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 Walter Company has the following information for the month of March: Cash balance, March 1 Collections from customers Paid to suppliers Manufacturing overhead Direct labor Selling and administrative expenses $ 17,970 41,950 23,400 7,200 8,800 5,300 Walter pays wages and other cash expenses in the month incurred. Manufacturing overhead includes $1,750 for machinery depreciation, but the amount for selling and administrative expenses is exclusive of depreciation. Additionally, Walter also expects to buy a piece of property for $8,100 during March. Walter can borrow in increments of $1,000 and would like to maintain a minimum cash balance of $10,000. Required: Prepare Walter's cash budget for the month of March. Beginning Cash Balance Budgeted Cash Receipts Budgeted Cash Payments Preliminary Cash Balance Cash Borrowed Ending cash balance
