Shadee Corp. expects to sell 550 sun visors in May and 380 in June. Each visor sells for $24. Shadee's beginning and ending finished goods inventories for May are 80 and 60 units, respectively Ending finished goods inventory for June will be 70 units E8-10 (Algo) Preparing Budgeted Income Statement [LO 8-3h] Each visor requires a total of $4.50 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $200 each Shadee wants to have 26 closures on hand on May 1, 20 closures on May 31, and 22 closures on June 30 and variable manufacturing overhead is $1.50 per unit produced Suppose that each visor takes 070 direct labor hours to produce and Shadee pays its workers $8 per hour Additional information Selling costs are expected to be 6 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.)