mework Shadee Corp expects to sell 530 sun visors in May and 310 in June. Each visor sells for $24. Shadee's beginning and ending finished goods inventories for May are 75 and 45 units, respectively. Ending finished goods Inventory for June will be 60 units Each visor requires a total of $3.50 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 30 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 0.30 direct labor hours to produce and Shadee pays its workers $8 per hour. Additional Information: Selling costs are expected to be 8 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 $8.00.) (Do not round your intermediate calculations. Round your answers to 2 decimal places.) SHADEE CORP Budgeted Income Statement May June Budgeted Gross Margin Budgeted Net Operating Income