Required Information [The following information applies to the questions displayed below.] Shadee Corp. expects to sell 530 sun visors in May and 370 in June. Each visor sells for $23. Shadee's beginning and ending finished goods Inventories for May are 90 and 50 units, respectively. Ending finished goods inventory for June will be 65 units. Each visor requires a total of $4.50 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $2.50 each. Shadee wants to have 28 closures on hand on May 1, 18 closures on May 31, and 20 closures on June 30 and variable manufacturing overhead is $1.75 per unit produced. Suppose that each visor takes 0.30 direct labor hours to produce and Shadee pays its workers $8 per hour. Additional Information: Selling costs are expected to be 11 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 $6.00.) (Do not round your Intermediate calculations. Round your answers to 2 decimal places.) SHADEE CORP. Budgeted Gross Margin Budgeted Income Statement May June Budgeted Net Operating Income