Shadee Corp. expects to sell 560 sun visors in May and 420 in June. Each visor sells for $24. Shadee's beginning and ending finished goods inventories for May are 90 and 50 units, respectively. Ending finished goods inventory for June will be 60 units. 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 $1.50 each. Shadee wants to have 34 closures on hand on May 1, 19 closures on May 31, and 22 closures on June 30 and variable manufacturing overhead is $1.00 per unit produced. Suppose that each visor takes 0.20 direct labor hours to produce and Shadee pays its workers $10 per hour. Additional information: . Selling costs are expected to be 9 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 $8.00.) (Do not round your intermediate calculations. Round your answers to 2 decimal places.) SHADEE CORP Budgeted Income Statement May June Budgeted Gross Margin Budgeted Net Operating Income