Complete shadee budgeted income statement

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Reference no: EM131765923

Question: Each visor requires a total of $5.00 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $2.00 each. Shadee wants to have 31 closures on hand on May 1, 15 closures on May 31, and 24 closures on June 30 and variable manufacturing overhead is $2.25 per unit produced. Suppose that each visor takes 0.20 direct labor hours to produce and Shadee pays its workers $6 per hour. Additional information: Selling costs are expected to be 9 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 $1.70.) (Do not round your intermediate calculations. Round your answers to 2 decimal places.)

Reference no: EM131765923

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