Shade Corp. expects to sell 590 sun visors in May and 440 in June. Each visor sells for $24. Shade's beginning and ending finished goods inventories for May are 80 and 45 units, respectively. Ending finished goods inventory for June wil be 70 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. Shade wants to have 30 closures on hand on May 1, 23 closures on May 31, and 25 closures on June 30 and variable manufacturing overhead is $2.00 per unit produced. Suppose that each visor takes 0.30 direct labor hours to produce and Shade 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.

Complete Shade's budgeted income statement for the months of May and June. (Note: Assume that fixed overhead per unit is $7.00.)

(Do not round your intermediate calculations. Round your answers to 2 decimal places.)

Required information [The following information applies to the questions displayed below] Shadee Corp. expects to sell 590 sun visors in May and 440 in June. Each visor sells for $24. Shadee's beginning and ending finished goods inventories for May are 80 and 45 units, respectively. Ending finished goods inventory for June will be 70 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 30 closures on hand on May 1, 23 closures on May 31 , and 25 closures on June 30 and variable manufacturing overhead is $2.00 per unit produced. Suppose that each visor takes 0.30 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 $7.00 ) (Do not round your intermediate calculations. Round your answers to 2 decimal places.)