Shadee Corp expects to sell 510 sun visors in May and 420 in June. Each visor sells 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 $ 10.200 00 S. 8.400.00 Budgeted Cost of Goods Sold $ 7,726 50 $ 6,363 00 % Budgeted Gross Margin Budgeted Selling and Administrative Expenses $ 2,47350 S 2,037.00 X $ 2.118.00 $ 1,956 00