[The following information applies to the questions displayed below.) Shadee Corp. expects to sell 590 sun visors in May and 400 in June. Each visor sells for $23. Shadee's beginning and ending finished goods inventories for May are 65 and 60 units, respectively. Ending finished goods inventory for June will be 65 units. Each visor requires a total of $4.00 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $2.50 each. Shadee wants to have 26 closures on hand on May 1, 20 closures on May 31, and 25 closures on June 30. Additionally, Shadee's fixed manufacturing overhead is $800 per month, and variable manufacturing overhead is $2.50 per unit produced. Each visor takes 0.30 direct labor hours to produce and Shadee pays its workers $10 per hour. Additional information: Selling costs are expected to be 12 percent of sales. Fixed administrative expenses per month total $1,400 Required: Determine Shadee's budgeted selling and administrative expenses for May and June (Do not round your intermediate calculations. Round your answers to 2 decimal places.) May June Budgeted Selling and Administrative Expenses Each visor requires a total of $4.00 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $2.50 each. Shadee wants to have 26 closures on hand on May 1, 20 closures on May 31, and 25 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 $10 per hour. Additional information: Selling costs are expected to be 12 percent of sales Fixed administrative expenses per month total $1.400. Required: Complete Shadee's budgeted income statement for the months of May and June. (Note: Assume that fixed overhead per unit is $6.00.) (Do not round your intermediate calculations. Round your answers to 2 decimal places.) SHADEE CORP Budgeted Income Statement May June Budgeted Gross Margin Budgeted Selling and Administrative Expenses