Check my work 00 Requirea information SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below.] Shadee Corp. expects to sell 550 sun visors in May and 320 in June. Each visor sells for $20. Shadee's beginning and ending finished goods inventories for May are 70 and 50 units, respectively. Ending finished goods inventory for June will be 50 units. Part 6 of 6 1 points Skipped E8-10 (Algo) Preparing Budgeted Income Statement [LO 8-3h) eBook Each visor requires a total of $4.50 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 29 closures on hand on May 1, 22 closures on May 31, and 25 closures on June 30 and variable manufacturing overhead is $2.75 per unit produced. Suppose that each visor takes 0.10 direct labor hours to produce and Shadee pays its workers $10 per hour. Hint Ask Additional information: Print References Selling costs are expected to be 7 percent of sales. Fixed administrative expenses per month total $1,600. Required: Complete Shadee's budgeted income statement for the months of May and June. (Note: Assume that fixed overhead per unit is $4.00.) (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. (Do not round your intermediate calculations. Round your answers to 2 decimal SHADEE CORP Budgeted Income Statement May June Budgeted Gross Margin Budgeted Net Operating Income