Required information [The following information applies to the questions displayed below.) Shadee Corp. expects to sell 600 sun visors in May and 440 in June. Each visor sells for $19. Shadee's beginning and ending finished goods inventories for May are 65 and 40 units, respectively. Ending finished goods inventory for June will be 55 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 35 closures on hand on May 1, 19 closures on May 31, and 24 closures on June 30 and variable manufacturing overhead is $0.75 per unit produced. Suppose that each visor takes 0.86 direct labor hours to produce and Shadee pays its workers $8 per hour, Additional information: Selling costs are expected to be 7 percent of sales. Fixed administrative expenses per month total $1700 Required: Complete Shadee's budgeted income statement for the months of May and June (Note: Assume that fixed overhead per unit is $1.50.) (Do not round your intermediate calculations, Round your answers to 2 decimal places.) SHADEE CORP Budgeted Income Statement May June Budgeted Sales Budgeted Gross Margin Budgeted Net Operating Income