Shadee Corporation expects to sell $580$ sun shades in May and $400$ in June. Each shade sells for $$134.$ Shadee$$s beginning and ending finished goods inventories for May are $60$ and $40$ shades, respectively. Ending finished goods inventory for June will be $55$ shades.

Each shade requires a total of $$45\mathrm{.}00$ in direct materials that includes $4$ adjustable poles that cost $$5\mathrm{.}00$ each. Shadee expects to have $130$ in direct materials inventory on May $1,100$ poles in inventory on May $31,$ and $120$ poles in inventory on June $30.$

Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $$13$ per hour. Additionally, Shadee$$s fixed manufacturing overhead is $$8,000$ per month, and variable manufacturing overhead is $$13$ per unit produced.

Additional information:

Selling costs are expected to be $7$ percent of sales.

Fixed administrative expenses per month total $$1,700.$

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.

Shadee Corporation expects to sell $580$ sun shades in May and $400$ in June. Each shade sells for $$134.$ Shadee's

beginning and ending finished goods inventories for May are $60$ and $40$ shades, respectively. Ending finished goods

inventory for June will be $55$ shades.

Each shade requires a total of $$45\mathrm{.}00$ in direct materials that includes $4$ adjustable poles that cost $$5\mathrm{.}00$ each. Shadee expects to

have $130$ in direct materials inventory on May $1,100$ poles in inventory on May $31,$ and $120$ poles in inventory on June $30.$

Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $$13$ per hour. Additionally, Shadee's

fixed manufacturing overhead is $$8,000$ per month, and variable manufacturing overhead is $$13$ per unit produced.

Additional information:

Selling costs are expected to be $7$ percent of sales.

Fixed administrative expenses per month total $$1,700.$

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.