For Practice Only: 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 $2.00 each. Shadee wants to have 26 closures on hand on May 1, 21 closures on May 31, and 25 closures on June 30 and variable manufacturing overhead is $2.50 per unit produced. Suppose that each visor takes 0.90 direct labor hours to produce and Shadee pays its workers $11 per hour.

Additional information:

• Selling costs are expected to be 9 percent of sales.
• Fixed administrative expenses per month total $1,700.

Required:

Complete Shadee's budgeted income statement for the months of May and June.(Note: Assume that fixed overhead per unit is $1.50.)(Do not round your intermediate calculations. Round your answers to 2 decimal places.)

Required Information : Shadee Corp. expects to sell 590 sun visors in May and 410 in June. Each visor sells for $28. Shadee's beginning and ending finished goods inventories for May are 85 and 55 units, respectively. Ending finished goods inventory for June will be 70 units.