help budgeted selling and administrative expenses is wrong

6 Part 6 Required information SB Exercise E8-5 to E8.10 [The following information applies to the questions displayed below) Shadee Corp. expects to sell 570 sun visors in May and 330 in June. Each visor sets for $27. Shadee's beginning and ending finished goods inventories for May are 70 and 55 units, respectively. Ending finished goods inventory for June will be 60 units 166 points E8-10 (Algo) Preparing Budgeted Income Statement [LO 8-3h) Each visor requires a total of $5.50 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 20 closures on May 31, and 22 closures on June 30 and variable manufacturing overhead is $225 per unit produced, Suppose that each visor takes 0.50 direct labor hours to produce and Shadee pays its workers 57 per hour. Additional Information: Selling costs are expected to be 11 percent of sales. Fixed administrative expenses per month total $1,300. Required: Complete Shadee's budgeted income statement for the months of May and June (Note: Assume that fixed overhead per unit is $7.00) (Do not round your intermediate calculations. Round your answers to 2 decimal places.) Answer is complete but not entirely correct. SHADEE CORP Budgeted Income Statement May June Budgeled Sales 5 15,390.00 S 8,910,00 Budgeted Coat of Goods Bold $ 10,402.50 S 6,022 50 Budgeted Gross Margin Budgeted Selling and Administrative Expenses $ 4.987.50 S 2.887 50 $1,692.00 S 900 100 Budgeted Net Operating income $ 1,999.00 $0740