7 Required information The following information applies to the questions displayed below) Shadee Corp expects to sell 640 sun visors in May and 350 in June. Each visor sells for $20 Shadee's beginning and ending finished goods inventories for May are 75 and 50 units respectively Ending finished goods inventory for June wil be 65 units Panood 3 Each vor requires a total of $3,50 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $150 each. Shadee wants to have 26 closures on hand on May 1, 16 closures on May 31, and 25 dosures on June 30 and Variable manufacturing overhead is $200 per unit produced. Suppose that each visor takes 0,40 direct labor hours to produce and Shadee pays its workers $7 per hour Additional information Selling costs are expected to be 8 percent of sales Foed administrative expenses per month total $1400 Required: Complete Shadee's budgeted income statement for the months of May and June. (Note: Assume that fored overhead per unit is $5.00) (Do not round your intermediate calculations. Round your answers to 2 decimal places.) SHADEE CORP Budgeked Income Sam May Bedsted Margin Budgeted Net Operating income