Shadee Corp. expects to sell 550 sun visors in May and 360 in June. Each visor sells for $17. Shadees beginning and ending finished goods inventories for May are 85 and 40 units, respectively. Ending finished goods inventory for June will be 50 units.

Each visor requires a total of $5.00 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, 19 closures on May 31, and 27 closures on June 30 and variable manufacturing overhead is $2.50 per unit produced. Suppose that each visor takes 0.20 direct labor hours to produce and Shadee pays its workers $6 per hour.

Additional information:

Selling costs are expected to be 8 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 $1.40.) (Do not round your intermediate calculations. Round your answers to 2 decimal places.)

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Required information 5.00 points E8-10 Preparing Budgeted Income Statement [LO 8-3h] Each visor requires a total of S5.00 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, 19 closures on May 31, and 27 closures on June 30 and variable manufacturing overhead is $2.50 per unit produced. Suppose that each visor takes 0.20 direct labor hours to produce and Shadee pays its workers $6 per hour Additional information: Selling costs are expected to be 8 peroent 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 $1.40.) (Do not round your intermediate calculations. Round your answers to 2 decimal places.) SHADEE CORP. Budgeted Income Statement May $9,350.006,120.00 $ 2,750.00 1,800.00 June Budgeted Sales Budgeted Cost of Goods Sold Budgeted Gross Margin Budgeted Net Operating Income Required information 5.00 points E8-10 Preparing Budgeted Income Statement [LO 8-3h] Each visor requires a total of S5.00 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, 19 closures on May 31, and 27 closures on June 30 and variable manufacturing overhead is $2.50 per unit produced. Suppose that each visor takes 0.20 direct labor hours to produce and Shadee pays its workers $6 per hour Additional information: Selling costs are expected to be 8 peroent 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 $1.40.) (Do not round your intermediate calculations. Round your answers to 2 decimal places.) SHADEE CORP. Budgeted Income Statement May $9,350.006,120.00 $ 2,750.00 1,800.00 June Budgeted Sales Budgeted Cost of Goods Sold Budgeted Gross Margin Budgeted Net Operating Income