, ation.comhrntpx?-=0.8519044522240348,1520227242 110% Q,Search geted Income Sta
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, ation.comhrntpx?-=0.8519044522240348,1520227242 110% Q,Search geted Income Statement [LO 8-3h] f $3.50 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $2. on May 1 17 clneuree n Mau 31 and DR clnesrae nn ina 2n and variahla manufactirina nuarhaarl ie 2.00 per unit prod r hours Required Information pected e expen SB Exercise E8-5 to E8-10 50.) (Do not round The following information applies to the questions displayed below.] r answe Shadee Corp. expects to sell 640 sun visors in May and 420 in June. Each visor sells for $15. Shadee's beginning and ending finished goods inventories for May are 80 and 55 units, respectively Ending finished goods inventory for June will be 70 units udgeted Income PrtScn Home End PgUpExplanation / Answer
SHADEE CORP. Budgeted Income Statement May June Units 640 420 Budgeted Sales @ $15 $9,600.00 $6,300.00 Less: Cost of goods sold @ $9.80 (see below) -$6,272.00 -$4,116.00 Budgeted Gross Margin $3,328.00 $2,184.00 Less: Budgeted selling and administrative Expenses -$2,260.00 -$1,930.00 Budgeted Net Operating Income $1,068.00 $254.00 Budgeted manufacturing cost per unit Cost per Unit Direct material $3.50 Total direct labor (.30 hrs each X $9.00 per hour) $2.70 Variable manufacturing overhead $2.00 Fixed manufacturing overhead $1.60 Manufacturing cost per unit $9.80 Budgeted selling and administrative Expenses May June Sales $9,600.00 $6,300.00 Variable selling and administrative rate x 10% x 10% Variable selling and administrative expenses $960.00 $630.00 Fixed selling and administrative expenses 1300 1300 Budgeted selling and administrative expenses $2,260.00 $1,930.00
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