Required information (The following information applies to the questions displayed below.) Shadee Corp. expects to sell 620 sun visors in May and 410 in June. Each visor sells for $23. Shalee's beginning and ending finished goods inventories for May are 70 and 50 units, respectively. Ending finished goods inventory for June will be 50 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 $2.00 each. Shadee wants to have 31 closures on hand on May 1, 23 closures on May 31, and 21 closures on June 30. Additionally, Shadee's fixed manufacturing overhead is $1,300 per month, and variable manufacturing overhead is $2.50 per unit produced. Each visor takes 0.30 direct labor hours to produce and Shadee pays its workers $11 per hour. Additional information: Selling costs are expected to be 7 percent of sales. Fixed administrative expenses per month total $1700. Required: Determine shadee's budgeted selling and administrative expenses for May and June (Do not round your intermediate calculations. Round your answers to 2 decimal places.) May June Budgeted Seling and Administrative Expenses Required information [The following information applies to the questions displayed below.) Shadee Corp, expects to sell 620 sun visors in May and 410 in June. Each visor sells for $23. Shadee's beginning and ending finished goods inventories for May are 70 and 50 units, respectively. Ending finished goods inventory for June will be 50 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 $2.00 each. Shadee wants to have 31 closures on hand on May 1, 23 closures on May 31, and 21 closures on June 30 and variable manufacturing overhead is $2.50 per unit produced. Suppose that each visor takes 0.36 direct labor hours to produce and Shadee pays its workers $11 per hour. Additional information: Selling costs are expected to be 7 percent of sales. Fixed administrative expenses per month total $1,700, es 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