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Each shade requires a total of $40 in direct materials that includes 4 adjustable poles that cost $5.00 each. Shadee expects to have 120 poles in direct materials inventory on May 1, 80 poles in inventory on May 31 , and 100 poles in inventory on June 30 . Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $9 per hour. Additionally. Shadee's fixed manufacturing overhead is $10,000 per month, and variable manufacturing overhead is $13 per unit produced. Additional information: - Selling costs are expected to be 6 percent of sales. - Fixed administrative expenses per month total $12,000. Required: Prepare Shadee's budgeted income statement for the months of May and June. Note: Do not round your intermediate calculations. \begin{tabular}{|l|l|l|l|} \hline \multicolumn{2}{|c|}{ SHADEE CORPORATION } & Mudgeted Income Statement & June \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline Budgeted Gross Margin & & \\ \hline & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} Required information [The following information applies to the questions displayed below] Shadee Corporation expects to sell 600 sun shades in May and 800 in June. Each shade sells for $180. Shadee's beginning and ending finished goods inventories for May are 75 and 50 shades, respectively. Ending finished goods inventory for June will be 60 shades. Each shade requires a total of $40 in direct materials that includes 4 adjustable poles that cost $5.00 each. Shadee expects to have 120 poles in direct materials inventory on May 1, 80 poles in inventory on May 31, and 100 poles in inventory on June 30 . Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $9 per hour. Additionally, Shadee's. ixed manufacturing overhead is $10,000 per month, and variable manufacturing overhead is $13 per unit produced. Additional information: - Selling costs are expected to be 6 percent of sales. - Fixed administrative expenses per month total $12,000. Required: Prepare Shadee's budgeted income statement for the months of May and June: Note: Do not round your intermediate calculations