Shadee Corp expects to sell 510 sun visors in May and 420 in June. Each visor selis for $20. Shadee's beginning and ending finished goods inventories for May are 65 and 40 units, respectively. Ending finished goods inventory for June will be 60 units. Each visor requires a total of $4.00 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, 18 closures on May 31, and 21 closures on June 30 and variable manufacturing overhead is $175 per unit produced Suppose that each visor takes 0.20 direct labor hours to produce and Shadee pays its workers $12 per hour. Additional information: Selling costs are expected to be 9 percent of sales. Fixed administrative expenses per month total $1,200. 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.) Answer is complete but not entirely correct. SHADEE CORP. Budgeted Income Statement May June Budgeted Sales Budgeted Cost of Goods Sold $ 10,200.00 $ 7,726 50 $ 8,400 00 $ 6,363.00 0 $ 2,473 50 OS 2.037.00 0 Os 2,118.00 OS 1,956 00 Budgeted Gross Margin Budgeted Selling and Administrative Expenses