Shadee Corporation expects to sell $520$ sun shades in May and $440$ in June. Each shade sells for $$140.$ Shadee's beginning and ending finished goods inventories for May are $85$ and $50$ shades, respectively. Ending finished goods inventory for June will be $60$ shades.

E$8-10($Algo$)$ Preparing Budgeted Income Statement $[$LO $8-3$h$]$

Each shade requires a total of $$50\mathrm{.}00$ in direct materials that includes $4$ adjustable poles that cost $$10\mathrm{.}00$ each. Shadee expects to have $120$ in direct materials inventory on May $1,100$ poles in inventory on May $31,$ and $110$ poles in inventory on June $30.$

Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $$12$ per hour. Additionally, Shadee's fixed manufacturing overhead is $$8,000$ per month, and variable manufacturing overhead is $$14$ per unit produced.

Additional information:

Selling costs are expected to be $11$ percent of sales.

Fixed administrative expenses per month total $$1,400.$

Required:

Prepare Shadee's budgeted income statement for the months of May and June.

Note: Do not round your intermediate calculations. Round your answers to $2$ decimal places.

$\backslash$table$[[$SHADEE CORPORATION,$],[$Budgeted Income Statement,,$],[,$May,June$],[,,]]$