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Required information

$[$The following information applies to the questions displayed below.$]$

Shadee Corporation expects to sell $530$ sun shades in May and $350$ in June. Each shade sells for $$146.$ Shadee's beginning and ending finished goods inventories for May are $65$ and $45$ shades, respectively. Ending finished goods inventory for June will be $55$ shades.

Each shade requires a total of $$55\mathrm{.}00$ in direct materials that includes $4$ adjustable poles that cost $$5\mathrm{.}00$ each. Shadee expects to have $130$ in direct materials inventory on May $1,90$ 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 $$13$ per hour. Additionally, Shadee's fixed manufacturing overhead is $$11,000$ per month, and variable manufacturing overhead is $$11$ per unit produced.

Additional information:

Selling costs are expected to be $9$ percent of sales.

Fixed administrative expenses per month total $$1,600.$

Required:

Prepare Shadee's budgeted income statement for the months of May and June.

Note: Do not round your intermediate calculations. Round your answers to $2$ decimal places.

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