ences Required information [The following information applies to the questions displayed below] Shadee Corp. expects to sell 580 sun visors in May and 370 in June. Each visor sells for $22 Shadee's beginning and ending finished goods inventories for May are 75 and 40 units, respectively. Ending finished goods inventory for June will be 55 units Each visor requires a total of $4.50 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, 19 closures on May 31, and 24 closures on June 30 and variable manufacturing overhead is $1.75 per unit produced. Suppose that each visor takes 0.40 direct labor hours to produce and Shadee pays its workers $6 per hour. Additional information: . Selling costs are expected to be 6 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 $6.00) (Do not round your intermediate calculations. Round your answers to 2 decimal places.) Budgeted Gross Margin SHADEE CORP Budgeted Income Statement May June Budgeted Net Operating Income