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. Shadee's beginning and ending finished goods Inventories for May are 70 and 45 shades, respectively. Ending finished goods Inventory for June will be 55 shades. E8-10 (Algo) Preparing Budgeted Income Statement [LO 8-3h] Each shade requires a total of $50.00 in direct materials that includes 4 adjustable poles that cost $5.00 each. Shadee expects to have 120 in direct materials 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 manufacturing overhead is $14 per unit produced. 6 Additional Information: Selling costs are expected to be 6 percent of sales. Fixed administrative expenses per month total $1,200. Required: Prepare Shadee's budgeted Income statement for the months of May and June. Note: Do not round your Intermediate calculations. Round your answers to 2 decimal places.

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. Shadee's beginning and ending finished goods inventortes for May are 70 and 45 shades, respectively. Ending finished goods inventory for June will be 55 shades. E8-10 (Algo) Preparing Budgeted Income Statement [LO 8-3h] Each shade requires a totat of $50.00 in direct materials that includes 4 adjustable poles that cost $5.00 each. Shadee expects to have 120 in direct materials 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 foxed manufacturing overhead is $11,000 per month, and voriable manufacturing overheod is $14 per unit produced. Additional Information: - Selling costs are expected to be 6 percent of sales. - Fued administrative expenses per month total \$1,200 Required: Prepare Shadee's budgeted income statement for the montis of Moy and June. Note: Do not round your intermedlate calculations. Round your answers to 2 decimal ploces. \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ SHADEE CORPORATION } \\ \hline \multicolumn{3}{|c|}{ Budgeted Income Statement } \\ \hline & May & June \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Budgeted Gross Margin & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Eudgeted Net Operatiog incorne & & \\ \hline \end{tabular}