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Each visor requires a total of $4.00 in direct materials that includes an adjustable closure...

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Accounting

Each visor requires a total of $4.00 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 30 closures on hand on May 1, 20 closures on May 31, and 25 closures on June 30 and variable manufacturing overhead is $1.25 per unit produced. Suppose that each visor takes 0.30 direct labor hours to produce and Shadee pays its workers $9 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 $2.) (Do not round your intermediate calculations.)

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SHADEE CORP Budgeted Income Statement May June Budgeted Gross Margin Budgeted Net Operating Income SHADEE CORP Budgeted Income Statement May June Budgeted Gross Margin Budgeted Net Operating Income

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