Required information [The following information applies to the questions displayed below.] Shadee Corp. expects to sell 550 sun visors in May and 330 in June. Each visor sells for $23. Shadee's beginning and ending finished goods inventories for May are 65 and 45 units, respectively, Ending finished goods inventory for June will be 50 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 28 closures on hand on May 1, 20 closures on May 31, and 26 closures on June 30 and variable manufacturing overhead is $150 per unit produced. Suppose that each Visor takes 0.90 direct labor hours to produce and Shadee pays its workers 59 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 $1.60) (Do not round your intermediate calculations. Round your answers to 2 decimal places.) SHADEE CORP Lageted Income Statement May June Budgeted Gross Margin Budgeted Net Operating Income