! Required information [The following information applies to the questions displayed below.] Shadee Corp. expects to sell 590 sun visors in May and 320 in June. Each visor sells for $16. Shadee's beginning and ending finished goods inventories for May are 80 and 60 units, respectively. Ending finished goods inventory for June will be 60 units. Each visor 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 $2.00 each. Shadee wants to have 32 closures on hand on May 1, 17 closures on May 31, and 27 closures on June 30 and variable manufacturing overhead is $2.00 per unit produced. Suppose that each visor takes 0.30 direct labor hours to produce and Shadee pays its workers $7 per hour. Additional information: . Selling costs are expected to be 11 percent of sales. Fixed administrative expenses per month total $1,300. ces Required: Complete Shadee's budgeted income statement for the months of May and June. (Note: Assume that fixed overhead per unit is $1.00.) (Do not round your intermediate calculations. Round your answers to 2 decimal places.) SHADEE CORP Budgeted Income Statement May Junie Budgeted Gross Margin Budgeted or Operating income