! Required information The following information applies to the questions displayed below.] Shadee Corp. expects to sell 590 sun visors in May and 340 in June. Each visor sells for $18 Shadee's beginning and ending finished goods inventories for May ate 70 and 60 units, respectively, Ending finished goods Inventory for June will be 60 units Each vso requires a total of $5.00 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $250 each Shadee wants to have 33 closures on hand on May 1, 23 closures on May 31 and 23 closures on June 30 and variable manufacturing overhead is $125 per unit produced. Suppose that each visor takes 0.50 direct labor hours to produce and Shades pays its workers $7 per hour Additional Information Selling costs are expected to be 6 percent of sales Fbed 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 $1.60) (Do not round your intermediate calculations. Round your answers to 2 decimal places.) Required: Complete Shadee's budgeted income statement for the months of May and June. (Note: Assume that fixed overhead per unit is $1.60.) (Do not round your intermediate calculations. Round your answers to 2 decimal places.) SHADEE CORP Budgeted Income Statement May Budgeted Sales $ 10,62000 $ 6,120 00 Budgeted Cost of Goods Sold June Budgeted Gross Margin Budgeted Not Operating Income