Required information The following information applies to the questions displayed below.) Shadee Corp. expects to sell 590 sun visors in May and 400 in June. Each visor sells for $26. 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 $4.00 in direct materials that includes an adjustable closure that the company purchases from a sup at a cost of $2.50 each. Shadee wants to have 25 closures on hand on May 1, 21 closures on May 31, and 24 closures on June 30 variable manufacturing overhead is $2.75 per unit produced. Suppose that each visor takes 0.50 direct labor hours to produce an Shadee pays its workers $10 per hour. Additional information: Selling costs are expected to be 8 percent of sales. Fixed administrative expenses per month total $1,200. 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 Income Statement May June Budgeted Gross Margin Budgeted Net Operating Income