SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below.) Shadee Corp. expects to sell 520 sun visors in May and 350 in June. Each visor sells for $21. Shadee's beginning and ending finished goods inventories for May are 70 and 50 units, respectively. Ending finished goods inventory for June will be 70 units. E8-6 (Algo) Preparing Direct Materials Purchases and Manufacturing Overhead Budgets [LO 8-3c, e] 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 29 closures on hand on May 1, 16 closures on May 31, and 20 closures on June 30. Additionally, Shadee's fixed manufacturing overhead is $1,400 per month, and variable manufacturing overhead is $2.75 per unit produced. Required: 1. Determine Shadee's budgeted cost of closures purchased for May and June. 2. Determine Shadee's budget manufacturing overhead for May and June. ! Required information SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below.) Shadee Corp. expects to sell 520 sun visors in May and 350 in June. Each visor sells for $21. Shadee's beginning and ending finished goods inventories for May are 70 and 50 units, respectively. Ending finished goods inventory for June will be 70 units. E8-7 (Algo) Preparing Direct Labor Budget (LO 8-3d) Suppose that each visor takes 0.20 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.) ! Required information SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below.) Shadee Corp. expects to sell 520 sun visors in May and 350 in June. Each visor sells for $21. Shadee's beginning and ending finished goods inventories for May are 70 and 50 units, respectively. Ending finished goods inventory for June will be 70 units. E8-8 (Algo) Preparing Cost of Goods Sold Budget (LO 8-3f] 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 29 closures on hand on May 1, 16 closures on May 31, and 20 closures on June 30 and variable manufacturing overhead is $2.75 per unit produced. Suppose that each visor takes 0.20 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 $4.) 2. Compute the Shadee's budgeted cost of goods sold for May and June. Required information SB Exercise E8-5 to E8-10 (The following information applies to the questions displayed below.) Shadee Corp. expects to sell 520 sun visors in May and 350 in June. Each visor sells for $21. Shadee's beginning and ending finished goods inventories for May are 70 and 50 units, respectively. Ending finished goods inventory for June will be 70 units. E8-9 (Algo) Preparing Selling and Administrative Expense Budget (LO 8-3g] 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 29 closures on hand on May 1, 16 closures on May 31, and 20 closures on June 30. Additionally, Shadee's fixed manufacturing overhead is $1,400 per month, and variable manufacturing overhead is $2.75 per unit produced. Each visor takes 0.20 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.) Required information SB Exercise E8-5 to E8-10 (The following information applies to the questions displayed below.) Shadee Corp. expects to sell 520 sun visors in May and 350 in June. Each visor sells for $21. Shadee's beginning and ending finished goods inventories for May are 70 and 50 units, respectively. Ending finished goods inventory for June will be 70 units. E8-10 (Algo) Preparing Budgeted Income Statement [LO 8-3h) 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 29 closures on hand on May 1, 16 closures on May 31, and 20 closures on June 30 and variable manufacturing overhead is $2.75 per unit produced. Suppose that each visor takes 0.20 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 $4.00.) (Do not round your intermediate calculations. Round your answers to 2 decimal places.) E8-11 (Algo) Calculating Cash Receipts [LO 8-4] Shadee Corp. expects to sell 620 sun visors in May and 400 in June. Each visor sells for $11. Shadee's beginning and ending finished goods inventories for May are 70 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 500 500 460 Sixty percent of Shadee's sales are cash. Of the credit sales, 50 percent is collected in the month of the sale, 36 percent is collected during the following month, and 14 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 SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below.) Shadee Corp. expects to sell 520 sun visors in May and 350 in June. Each visor sells for $21. Shadee's beginning and ending finished goods inventories for May are 70 and 50 units, respectively. Ending finished goods inventory for June will be 70 units. E8-6 (Algo) Preparing Direct Materials Purchases and Manufacturing Overhead Budgets [LO 8-3c, e] 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 29 closures on hand on May 1, 16 closures on May 31, and 20 closures on June 30. Additionally, Shadee's fixed manufacturing overhead is $1,400 per month, and variable manufacturing overhead is $2.75 per unit produced. Required: 1. Determine Shadee's budgeted cost of closures purchased for May and June. 2. Determine Shadee's budget manufacturing overhead for May and June. ! Required information SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below.) Shadee Corp. expects to sell 520 sun visors in May and 350 in June. Each visor sells for $21. Shadee's beginning and ending finished goods inventories for May are 70 and 50 units, respectively. Ending finished goods inventory for June will be 70 units. E8-7 (Algo) Preparing Direct Labor Budget (LO 8-3d) Suppose that each visor takes 0.20 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.) ! Required information SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below.) Shadee Corp. expects to sell 520 sun visors in May and 350 in June. Each visor sells for $21. Shadee's beginning and ending finished goods inventories for May are 70 and 50 units, respectively. Ending finished goods inventory for June will be 70 units. E8-8 (Algo) Preparing Cost of Goods Sold Budget (LO 8-3f] 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 29 closures on hand on May 1, 16 closures on May 31, and 20 closures on June 30 and variable manufacturing overhead is $2.75 per unit produced. Suppose that each visor takes 0.20 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 $4.) 2. Compute the Shadee's budgeted cost of goods sold for May and June. Required information SB Exercise E8-5 to E8-10 (The following information applies to the questions displayed below.) Shadee Corp. expects to sell 520 sun visors in May and 350 in June. Each visor sells for $21. Shadee's beginning and ending finished goods inventories for May are 70 and 50 units, respectively. Ending finished goods inventory for June will be 70 units. E8-9 (Algo) Preparing Selling and Administrative Expense Budget (LO 8-3g] 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 29 closures on hand on May 1, 16 closures on May 31, and 20 closures on June 30. Additionally, Shadee's fixed manufacturing overhead is $1,400 per month, and variable manufacturing overhead is $2.75 per unit produced. Each visor takes 0.20 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.) Required information SB Exercise E8-5 to E8-10 (The following information applies to the questions displayed below.) Shadee Corp. expects to sell 520 sun visors in May and 350 in June. Each visor sells for $21. Shadee's beginning and ending finished goods inventories for May are 70 and 50 units, respectively. Ending finished goods inventory for June will be 70 units. E8-10 (Algo) Preparing Budgeted Income Statement [LO 8-3h) 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 29 closures on hand on May 1, 16 closures on May 31, and 20 closures on June 30 and variable manufacturing overhead is $2.75 per unit produced. Suppose that each visor takes 0.20 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 $4.00.) (Do not round your intermediate calculations. Round your answers to 2 decimal places.) E8-11 (Algo) Calculating Cash Receipts [LO 8-4] Shadee Corp. expects to sell 620 sun visors in May and 400 in June. Each visor sells for $11. Shadee's beginning and ending finished goods inventories for May are 70 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 500 500 460 Sixty percent of Shadee's sales are cash. Of the credit sales, 50 percent is collected in the month of the sale, 36 percent is collected during the following month, and 14 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