P23-2ADeleon Inc. is preparing its annual budgets for the year ending December 31, 2014. Accounting assistants furnish the data shown below.
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Product JB 50 |
Product JB 60 |
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Sales budget: |
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Anticipated volume in units |
402,900 |
200,700 |
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Unit selling price |
$21.00 |
$24.00 |
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Production budget: |
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Desired ending finished goods units |
25,900 |
12,400 |
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Beginning finished goods units |
25,200 |
11,200 |
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Direct materials budget: |
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Direct materials per unit (pounds) |
3 |
4 |
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Desired ending direct materials pounds |
29,800 |
13,700 |
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Beginning direct materials pounds |
36,200 |
12,400 |
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Cost per pound |
$2 |
$3 |
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Direct labor budget: |
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Direct labor time per unit |
0.4 |
0.6 |
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Direct labor rate per hour |
$10 |
$10 |
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Budgeted income statement: |
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Total unit cost |
$12 |
$19 |
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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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