Each shade requires a total of $40 in direct materials that includes 4 adjustable poles that cost $5.00 each. Shadee expects to have 120 poles in direct materials inventory on May 1, 80 poles in inventory on May 31, and 100 poles in inventory on June 30. Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $9 per hour. Additionally, Shadee's fixed manufacturing overhead is $10,000 per month, and variable manufacturing overhead is $13 per unit produced. Additional information: Selling costs are expected to be 6 percent of sales. Fixed administrative expenses per month total $12,000. Required: Prepare Shadee's budgeted income statement for the months of May and June. Note: Do not round your intermediate calculations. SHADEE CORPORATION Budgeted Sales Budgeted Cost of Goods Sold Budgeted Income Statement May June $ 108,000 $ 144,000 Budgeted Gross Margin Budgeted Selling and Administrative Expenses Budgeted Net Operating Income