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P23-2ADeleon Inc. is preparing its annual budgets for the year ending December 31, 2014. Accounting assistants furnish the data shown below.

   

Product JB 50

 

Product JB 60

Sales budget:

           

     Anticipated volume in units

 

402,900

   

200,700

 

     Unit selling price

 

$21.00

   

$24.00

 

Production budget:

           

     Desired ending finished goods units

 

25,900

   

12,400

 

     Beginning finished goods units

 

25,200

   

11,200

 

Direct materials budget:

           

     Direct materials per unit (pounds)

 

3

   

4

 

    Desired ending direct materials pounds

 

29,800

   

13,700

 

     Beginning direct materials pounds

 

36,200

   

12,400

 

     Cost per pound

 

$2

   

$3

 

Direct labor budget:

           

     Direct labor time per unit

 

0.4

   

0.6

 

     Direct labor rate per hour

 

$10

   

$10

 

Budgeted income statement:

           

     Total unit cost

 

$12

   

$19

 

 

 

 

 


An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $664,000 for product JB 50 and $358,600 for product JB 60, and administrative expenses of $543,700 for product JB 50 and $343,100 for product JB 60. Income taxes are expected to be 30%.

 

 

Prepare the sales budget for the year.

 

Prepare the production budget for the year.

 

Prepare the direct materials budget for the year.

 

Prepare the direct labor budget for the year.

 

Prepare the budgeted income statement for the year. ( Note:Income taxes are not allocated to the products.)

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