Required Information [The following information applies to the questions displayed below.] Shadee Corp. expects to sell 550 sun visors in May and 360 in June. Each visor sells for $14. Shadee's beginning and ending finished goods inventories for May are 75 and 45 units, respectively. Ending finished goods inventory for June will be 65 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 $1.50 each. Shadee wants to have 26 closures on hand on May 1, 22 closures on May 31, and 22 closures on June 30. Additionally, Shadee's fixed manufacturing overhead is $900 per month, and variable manufacturing overhead is $1.00 per unit produced. Required: 1. Determine Shadee's budgeted cost of closures purchased for May and June. (Round your answers to 2 decimal places.) May June Budgeted Cost of Closures Purchased 2. Determine Shadee's budget manufacturing overhead for May and June. (Do not round your intermediate values. Round your answers to 2 decimal places.) May June Budgeted Manufacturing Overhead Suppose that each visor takes 0.30 direct labor hours to produce and Shadee pays its workers $11 per hour. Required: Determine Shadee's budgeted direct labor cost for May and June. (Do not round your intermediate values. Round your answers to 2 decimal places.) May June Budgeted Direct Labor Cost 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 $1.50 each. Shadee wants to have 26 closures on hand on May 1, 22 closures on May 31, and 22 closures on June 30. Additionally, Shadee's fixed manufacturing overhead is $900 per month, and variable manufacturing overhead is $1.00 per unit produced. Required: 1. Determine Shadee's budgeted cost of closures purchased for May and June. (Round your answers to 2 decimal places.) May June Budgeted Cost of Closures Purchased 2. Determine Shadee's budget manufacturing overhead for May and June. (Do not round your intermediate values. Round your answers to 2 decimal places.) May June Budgeted Manufacturing Overhead 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 $1.50 each. Shadee wants to have 26 closures on hand on May 1, 22 closures on May 31, and 22 closures on June 30. Additionally, Shadee's fixed manufacturing overhead is $900 per month, and variable manufacturing overhead is $1.00 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 9 percent of sales. Fixed administrative expenses per month total $1,100. 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 Selling and Administrative Expenses 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 $1.50 each. Shadee wants to have 26 closures on hand on May 1, 22 closures on May 31, and 22 closures on June 30 and variable manufacturing overhead is $1.00 per unit produced. Suppose that 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 9 percent of sales. Fixed administrative expenses per month total $1,100. Required: Complete Shadee's budgeted income statement for the months of May and June. (Note: Assume that fixed overhead per unit is $1.20.) (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