Shadee Corp. expects to sell 640 sun visors in May and 410 in June. Each visor sells for $28. Shadee's beginning and ending finished goods inventories for May are 75 and 55 units, respectively. Ending finished goods inventory for June will be 65 units. Each visor requires a total of $3.50 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 32 closures on hand on May 1, 22 closures on May 31, and 21 closures on June 30 and variable manufacturing overhead is $1.00 per unit produced. Suppose that each visor takes 0.70 direct labor hours to produce and Shadee pays its workers $11 per hour. Additional information: Selling costs are expected to be 7 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 $7.00.) (Do not round your intermediate calculations. Round your answers to 2 decimal places.) Required: Complete Shadee's budgeted income statement for the months of May and June. (Note: Assume that fixed overhead per unit is $7.00.) (Do not round your intermediate calculations. Round your answers to 2 decimal places.) Budgeted Gross Margin SHADEE CORP. Budgeted Income Statement May June Budgeted Net Operating Income