Shadee Corp. expects to sell 530 sun visors in May and 420 in June. Each visor sells for $19. Shadee's beginning and ending finished goods inventories for May are 65 and 45 units, respectively. Ending finished goods inventory for June will be 65 units. Each visor requires a total of $5.50 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $2.50 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 $2.75 per unit produced. Suppose that each visor takes 0.30 direct labor hours to produce and Shadee pays its workers $9 per hour. Additional information: Selling costs are expected to be 11 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 $1.60.) (Do not round your intermediate calculations. Round your answers to 2 decimal places.) SHADEE CORP. Budgeted Income Statement May June Budgeted Cost of Goods Sold Budgeted Sales Budgeted Gross Margin Budgeted Selling and Administrative Expenses