Each visor requires a total of $4.00 in direct materials that includes an adjustable elosure that the company purchases from a supplier at a cost of $1.50 each. Shadee wants to have 26 closures on hand on May 1, 17 closures on May 31 , and 27 closures on June 30 and variable manufacturing overhead is $2.50 per unit produced. Suppose that each visor takes 0.10 direct labor hours to produce and Shadee pays its workers $12 per hour. Additional information: - Selling costs are expected to be 7 percent of sales. - Foxed administrative expenses per month total $1,400 Required: Complete Shadee's budgeted income statement for the months of May and June. (Note: Asssume that fixed overhead per unit is $1.00. (Do not round your intermediate calculations. Round your answers to 2 decimal places.) [The following information applies to the questions displayed below.] Shadee Corp. expects to sell 510 sun visors in May and 380 in June. Each visor sells for $15. Shadee's beginning and ending finished goods inventories for May are 80 and 55 units, respectively. Ending finished goods inventory for June will be 60 units. Each visor requires a total of $4.00 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $1.50 each. Shadee wants to have 26 closures on hand on May 1,17 closures on May 31, and 27 closures on June 30 and variable manufacturing overhead is $2.50 per unit produced. Suppose that each visor takes 0.10 direct labor hours to produce and Shadee pays its workers $12 per hour. Additional information: - Selling costs are expected to be 7 percent of sales. - Fixed administrative expenses per month total $1,400. Required: Complete Shadee's budgeted income statement for the months of May and June. (Note: Assume that fixed overhead per unit is $1.00 ) (Do not round your intermediate calculations. Round your answers to 2 decimal places.)