Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Shadee Corporation expects to sell 580 sun shades in May and 350 in June. Each shade sells for $143. Shadee's beginning and ending finished goods

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Shadee Corporation expects to sell 580 sun shades in May and 350 in June. Each shade sells for $143. Shadee's beginning and ending finished goods inventorles for May are 75 and 50 shades, respectively. Ending finished goods Inventory for June will be 70 shades. Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $15 per hour. Additionally, Shadee fixed manufacturing overhead is $10,000 per month, and variable manufacturing overhead is $10 per unit produced. Required: 1. Prepare Shadee's direct labor budget for May and June. 2. Prepare Shadee's manufacturing overhead budget for May and June. Complete this question by entering your answers in the tabs below. Prepare Shadee's direct labor budget for May and June. Note: Do not round your intermediate calculations. Round your answers to 2 decimal places. Shadee Corporation expects to sell 580 sun shades In May and 350 In June. Each shade sells for $143. Shadee's beginning and ending finished goods inventorles for May are 75 and 50 shades, respectively. Ending finished goods inventory for June will be 70 shades. Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $15 per hour. Additionally, Shadee? fixed manufacturing overhead is $10,000 per month, and varlable manufacturing overhead is $10 per unit produced. Required: 1. Prepare Shadee's direct labor budget for May and June. 2. Prepare Shadee's manufacturing overhead budget for May and June. Complete this question by entering your answers in the tabs below. Prepare Shadee's manufacturing overhead budget for May and June. Shadee Corporation expects to sell 580 sun shades in May and 350 in June. Each shade sells for $143. Shadee's beginning and ending finished goods inventorles for May are 75 and 50 shades, respectively. Ending finished goods Inventory for June will be 70 shades. Each shade requires a total of $45.00 In direct materials that includes 4 adjustable poles that cost $5.00 each. Shadee expects to have 120 in direct materials inventory on May 1, 100 poles in Inventory on May 31, and 110 poles in inventory on June 30. Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $15 per hour. Additionally, Shadee's fixed manufacturing overhead is $10,000 per month, and varlable manufacturing overhead is $10 per unit produced. Use the information and solutions presented to complete the requirements. Required: 1. Determine Shadee's budgeted manufacturing cost per shade. (Note: Assume that flxed overhead per unit is $16. ) 2. Prepare Shadee's budgeted cost of goods sold for May and June. Complete this question by entering your answers in the tabs below. Determine Shadee's budgeted manufacturing cost per visor. (Note: Assume that fixed overhead per unit is $16. ) Note: Round your answer to 2 decimal places. Shadee Corporation expects to sell 580 sun shades in May and 350 in June. Each shade sells for $143. Shadee's beginning and ending flinished goods inventorles for May are 75 and 50 shades, respectively. Ending finished goods inventory for June will be 70 shades. Each shade requires a total of $45.00 in direct materials that includes 4 adjustable poles that cost $5.00 each. Shadee expects to have 120 in direct materials inventory on May 1,100 poles in inventory on May 31, and 110 poles in inventory on June 30. Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $15 per hour. Additionally, Shadee's fixed manufacturing overhead is $10,000 per month, and variable manufacturing overhead is $10 per unit produced. Use the information and solutions presented to complete the requirements, Required: 1. Determine Shadee's budgeted manufacturing cost per shade. (Note: Assume that fixed overhead per unit is $16. ) 2. Prepare Shadee's budgeted cost of goods sold for May and June. Complete this question by entering your answers in the tabs below. Determine Shadee's budgeted cost of goods sold for May and June. Note: Round your Intermediate calculations to 2 decimal places. Round your answers to 2 decimal places. Shadee Corporation expects to sell 580 sun shades in May and 350 in June. Each shade sells for $143. Shadee's beginning and ending finished goods Inventorles for May are 75 and 50 shades, respectively. Ending finished goods Inventory for June will be 70 shades. Each shade requires a total of $45.00 in direct materials that includes 4 adjustable poles that cost $5.00 each. Shadee expects to have 120 in direct materials inventory on May 1, 100 poles in inventory on May 31, and 110 poles in inventory on June 30 . Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $15 per hour. Additionally, Shadee's fixed manufacturing overhead is $10,000 per month, and varlable manufacturing overhead is $10 per unit produced. Additional information: - Selling costs are expected to be 7 percent of sales. - Fixed administrative expenses per month total $1,700. Required: Prepare Shadee's selling and administrative expense budget for May and June. Note: Do not round your intermedlate calculations. Round your answers to 2 decimal places

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting Objective Questions And Explanations

Authors: Irvin N. Gleim

7th Edition

0917539664, 978-0917539664

More Books

Students also viewed these Accounting questions