Shadee Corp. expects to sell 640 sun visors in May and 320 in dune. Eadly visor sells for $20. Shadee's beginning and ending finished goods inventories for May are 65 and 55 units, respectively Ending finished goods inventory for June will be 60 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 26 closures on hand on May 1: 21 closures on May 31, and 21 closures on June 30 and variable manufacturing overhead is $2.50 per unit produced. Suppose that each visor takes 0.30 direct labor hours to produce and Shadee pays its workers $11 per hour Additional information: . Selling costs are expected to be 12 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 $2.00.) (Do not round your intermediate calculations. Round your answers to 2 decimal places.) . 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 $2.00. (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