Required information SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below] Shadee Corporation expects to sell 630 sun shades in May and 440 in June. Each shade sells for $147. Shodee's beginning and ending finished goods imventories for May are 70 and 45 shades, respectively. Ending finished goods inventory for June wil be 55 shades. E8-10 (Algo) Preparing Budgeted Income Statement [LO 8-3h] Each shade requires a total of $50.00 in direct moterfais that includes 4 adjustable poles that cost $5.00 each. Shadee expects to have 120 in direct materiais inventory on May 1,100 poles In Inventory on May 31 , and 100 poles in inventory on June 30 Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $15 per hour. Additionally, Shadee's fixed manufacturing overhead is $11,000 per month and variable manufacturng overhead is $14 per unit produced. Additional Information: - Seling costs are expected to be 6 percent of sales - Fixed administrative expenses per month total $1,200 Requlred: Prepare Shodee's budgeted income statement for the months of Moy and June Note: Do not round your Intermedlate calculations. Round your answers to 2 decimal places. \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ SHADEE CORPORATION } \\ \hline \multicolumn{3}{|c|}{ Budpeted incomi Statement } \\ \hline & May & June \\ \hline & & - \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Budgeted Gross Margin & & \\ \hline & & \\ \hline & & \\ \hline 4 & & \\ \hline Buogetes Nat Opetating income & & \\ \hline \end{tabular}