Required information [The following information applies to the questions displayed below.) Shadee Corp, expects to sell 560 sun visors in May and 360 in June. Each visor sells for $21. Shadee's beginning and ending finished goods inventories for May are 80 and 55 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 $1.50 each. Shadee wants to have 28 closures on hand on May 1, 20 closures on May 31, and 23 closures on June 30 and variable manufacturing overhead is $2.00 per unit produced, Suppose that each visor takes 0.20 direct labor hours to produce and Shadee pays its workers $7 per hour. Additional information: Selling costs are expected to be 10 percent of sales. Fixed administrative expenses per month total $1,600. Required: Complete Shadee's budgeted income statement for the months of May and June (Note: Assume that fixed overhead per unit is $5.00.) (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 $5.00.) (Do not round your intermediate calculations. Round your answers to 2 decimal places.) SHADEE CORP Budgeted Income Statement May June Budgeted Gross Margin Budgeted Net Operating Income