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6 Part 6076 Required information SB Exercise E8-5 to E8-10 The following information applies to the questions displayed below.) Shadee Corp. expects to sell 570 sun visors in May and 330 in June. Each visor sells for $27. Shadee's beginning and ending finished goods inventories for May are 70 and 55 units, respectively. Ending finished goods Inventory for June will bo 60 units 160 points E8-10 (Algo) Preparing Budgeted Income Statement [LO 8-3h) Back P Each visor requires a total of $5.50 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $1.50 each. Shadee wants to have 26 closures on hand on May 1 20 closures on May 31, and 22 closures on June 30 and variable manufacturing overhead is $225 per unit produced. Suppose that each visor takes 0.50 direct lebor hours to produce and Shadee pays its workers $7 per hour Additional information Selling costs are expected to be 11 percent of sales Fixed administrative expenses per month total $1300 Reference Required: Complete Shadee's budgeted income statement for the months of May and June (Note: Assume that fixed overhead per unit is 57,00) (Do not round your intermediate calculations. Round your answers to 2 decimal places.) SHADEE CORP Dudgeted Income Statement May June Budgeted Gross Margin Budgled Not Operating Income