Required information 16 [The following information applies to the questions displayed below.] Shadee Corp. expects to sell 590 sun visors in May and 370 in June. Each visor sells for $21. Shadee's beginning and ending finished goods inventories for May are 85 and 45 units, respectively. Ending finished goods inventory for June will be 50 units 04622 ences Each visor requires a total of $4.00 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 29 closures on hand on May 1, 21 closures on May 31, and 25 closures on June 30 and variable manufacturing overhead is $2.75 per unit produced. Suppose that each visor takes 0.60 direct labor hours to produce and Shadee pays its workers $7 per hour. Additional information: Selling costs are expected to be 9 percent of sales. Fixed administrative expenses per month total $1,500. Required: Complete Shadee's budgeted income statement for the months of May and June. (Note: Assume that fixed overhead per unit is $3.00.) (Do not round your intermediate calculations. Round your answers to 2 decimal places.) SHADEE CORP. Budgeted Income Statement May 1 June Check