Required information [The following information applies to the questions displayed below.) Shadee Corp. expects to sell 560 sun visors in May and 370 in June. Each visor sells for $20.Shadee's beginning and ending finished goods inventories for May are 70 and 45 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 $2.00 each. Shadee wants to have 28 closures on hand on May 1, 22 closures on May 31, and 24 closures on June 30 and variable manufacturing overhead is $2.00 per unit produced. Suppose that each visor takes 0.60 direct labor hours to produce and Shadee pays its workers $7 per hour. Additional information: Selling costs are expected to be 7 percent of sales. Fixed administrative expenses per month total $1,400. Required: Complete Shadee's budgeted income statement for the months of May and June. (Note: Assume that fixed overhead per unit is $2.00.) (Do not round your intermediate calculations. Round your answers to 2 decimal places.) SHADEE CORP. Budgeted Income Statement May June S 11,200.00 S 7,400.00 Budgeted Sales Budgeted Cost of Goods Sold Budgeted Gross Margin Budgeted Selling and Administrative Expenses S 2,184.00 $ 1,918.00 Budgeted Net Operating Income