Shadee Corp. expects to sell $550$ sun visors in May and $300$ in June. Each visor sells for $$30.$ Shadee$$s beginning and ending finished goods inventories for May are $70$ and $60$ units, respectively. Ending finished goods inventory for June will be $65$ units.

Each visor requires a total of $$4\mathrm{.}00$ in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $$2\mathrm{.}00$ each. Shadee wants to have $32$ closures on hand on May $1,18$ closures on May $31,$ and $28$ closures on June $30$ and variable manufacturing overhead is $$2\mathrm{.}00$ per unit produced. Suppose that each visor takes $0\mathrm{.}90$ direct labor hours to produce and Shadee pays its workers $$8$ per hour.

Additional information:

Selling costs are expected to be $12$ percent of sales.

Fixed administrative expenses per month total $$1,500.$

Required:

Complete Shadee's budgeted income statement for the months of May and June. $($Note: Assume that fixed overhead per unit is $$7\mathrm{.}00.)($Do not round your intermediate calculations. Round your answers to $2$ decimal places.$)$