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Dmitrij [34]
3 years ago
9

Each visor requires a total of $4.00 in direct materials that includes an adjustable closure that the company purchases from a s

upplier at a cost of $2.00 each. Shadee wants to have 33 closures on hand on May 1, 23 closures on May 31, and 21 closures on June 30 and variable manufacturing overhead is $1.75 per unit produced. Suppose that each visor takes 0.90 direct labor hours to produce and Shadee pays its workers $10 per hour. Additional information: Selling costs are expected to be 8 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 $2.00.) (Do not round your intermediate calculations. Round your answers to 2 decimal places.)
Business
1 answer:
Nostrana [21]3 years ago
4 0

Answer:

Check the explanation

Explanation:

                                                                                May                  June

Budgeted sales                                                    10800               14400

                                                                                (600*18)      (800*18)

Less: cost of good sold                                         5970                7960

                                                                             (9.95*600)    (9.95*800)

Gross margin                                                          4830                6440

Less: Operating expenses  

Selling expenses (6%*Sales)                                  648                  864

Fixed administrative expenses                              1200                 1200

Total operating expenses                                      1848                 2064

Budgeted Net Operating Income                          2982                 4376

 

 

Unit product cost  

Material                                                           $4  

Direct labor (9*.3)                                           2.7  

Variable manuafcturing overhead                1.25  

Fixed overhead                                               2  

Unit product cost                                          $9.95  

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