Shadee Corporation expects to sell 560 sun shades in May and 350 in June. Each shade sells for $150. Shadee's beginning and ending finished goods inventories for May are 60 and 50 shades, respectively. Ending finished goods inventory for June will be 60 shades. E8-10 (Algo) Preparing Budgeted Income Statement [LO 8-3h] Each shade requires a total of $55.00 in direct materials that includes 4 adjustable poles that cost $5.00 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 $11,000 per month, and variable manufacturing overhead is $11 per unit produced. Additional information: - Selling costs are expected to be 6 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