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Shadee Corporation expects to sell 560 sun shades in May and 420 in June. Each shade sells for $162. Shadee's beginning and ending finished goods inventories for May are 70 and 40 shades, respectively. Ending finished goods inventory for June will be 60 shades. Each shade requires a total of $55.00 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 Ma\& 31, and 110 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' fixed manufacturing overhead is $12,000 per month, and variable manufacturing overhead is $13 per unit produced. Additional information: - Selling costs are expected to be 10 percent of sales. - Fixed administrative expenses per month total $1,300. 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. Shadee Corporation expects to sell 560 sun shades in May and 420 in June. Each shade sells for $162. Shadee's beginning and ending finished goods inventories for May are 70 and 40 shades, respectively. Ending finished goods inventory for June will be 60 shades. Each shade requires a total of $55.00 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 Ma\& 31, and 110 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' fixed manufacturing overhead is $12,000 per month, and variable manufacturing overhead is $13 per unit produced. Additional information: - Selling costs are expected to be 10 percent of sales. - Fixed administrative expenses per month total $1,300. 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

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