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Required Information [The following Information applies to the questions displayed below.] Shadee Corp. expects to sell 600 sun visors In May and 310 In June. Each visor sells for $20. Shadee's beginning and ending finished goods Inventories for May are 85 and 40 units, respectively. Ending finished goods Inventory for June will be 70 units. 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 28 closures on hand on May 1, 20 closures on May 31, and 24 closures on June 30 and variable manufacturing overhead is $1.50 per unit produced. Suppose that each visor takes 0.30 direct labor hours to produce and Shadee pays Its workers $6 per hour. Additional Information: . Selling costs are expected to be 6 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 $5.00.) (Do not round your Intermediate calculations. Round your answers to 2 decimal places.) SHADEE CORP Budgeted Income Statement May June Budgeted Gross Margin Budgeted Net Operating Income