Required:Complete Shadee's budgeted income statement for the months of May and June. (Note: Assume that fixed overhead perunit is $5.00.) (Do not round your intermediate calculations. Round your answers to 2 decimal places.)SHADEE CORP.Budgeted Income StatementMayJuneBudgeted Gross MarginBudgeted Net Operating Income Shadee Corp. expects to sell 540 sun visors in May and 390 in June. Each visor sells for $22. Shadee'sbeginning and ending finished goods inventories for May are 85 and 55 units, respectively. Endingfinished goods inventory for June will be 55 units.Each visor requires a total of $450 in direct materials that includes an adjustable closure that the company purchases froma supplier at a cost of $2.00 each. Shadee wants to have 33 closures on hand on May 1, 18 closures on May 31, and 22closures on June 30 and variable manufacturing overhead is $1.50 per unit produced. Suppose that each visor takes 0.40direct labor hours to produce and Shadee pays its workers $9 per hour.Additional information:• Selling costs are expected to be 8 percent of sales.Fixed administrative expenses per month total $1,400.Required:Complete Shadee's budgeted income statement for the months of May and June. (Note: Assume that fixed overhead perunit is $5.00.) (Do not round your intermediate calculations. Round your answers to 2 decimal places.)

Name: Required:Complete Shadee's budgeted income statement for the months o
Uploaded: 2024-03-20T06:32:37.000Z
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Description: Required:Complete Shadee's budgeted income statement for the months of May and June. (Note: Assume that fixed overhead perunit is $5.00.) (Do not round your intermediate calculations. Round your answers to 2 decimal places.)SHADEE CORP.Budgeted Inco