Required Information [The following information applies to the questions displayed below) Shadee Corp, expects to sell 600 sun visors in May and 380 in June. Each visor sells for $23. Shadee's beginning and ending finished goods Inventories for May are 65 and 45 units, respectively, Ending finished goods Inventory for June will be 60 units. 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 $2.00 each. Shadee wants to have 32 closures on hand on May 1, 23 closures on May 31, and 26 closures on June 30, Additionally, Shadee's fixed manufacturing overhead is $1,500 per month, and variable manufacturing overhead is $2.25 per unit produced. Each visor takes 070 direct labor hours to produce and Shadee pays its workers $9 per hour. Additional information: Selling costs are expected to be 11 percent of sales. Fixed administrative expenses per month total $1,600. Required: Determine Shadee's budgeted selling and administrative expenses for May and June. (Do not round your Intermediate calculations. Round your answers to 2 decimal places.) May June Budgeted Selling and Administrative Expenser Shadee Corp. expects to sell 600 sun visors in May and 380 in June. Each visor sells for $23. Shadee's beginning and ending finished goods inventories for May are 65 and 45 units, respectively, Ending finished goods inventory for June will be 60 units. 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 $2.00 each. Shadee wants to have 32 closures on hand on May 1, 23 closures on May 31, and 26 closures on June 30 and variable manufacturing overhead is $2.25 per unit produced. Suppose that each visor takes 0.70 direct labor hours to produce and Shadee pays its workers $9 per hour. Additional information: Selling costs are expected to be 11 percent of sales. Fixed administrative expenses per month total $1,600. Required: Complete Shadee's budgeted Income statement for the months of May and June. (Note: Assume that fixed overhead per unit is $1.20.) (Do not round your Intermediate calculations. Round your answers to 2 decimal places.) SHADEE CORP Budgeted Income Statement May June Budgeted Gross Margin . Selling costs are expected to be 11 percent of sales. Fixed administrative expenses per month total $1,600. equired: omplete Shadee's budgeted income statement for the months of May and June. (Note: Assume that fixed overhead per unit is $1.20.) 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