An accounting assistant has prepared the detailed

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Reference no: EM13568387

Deleon 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	403,300	204,100
Unit selling price	$21	$28
Production budget:
Desired ending finished goods units	26,800	17,900
Beginning finished goods units	34,400	13,000
Direct materials budget:
Direct materials per unit (pounds)	1	3
Desired ending direct materials pounds	34,400	20,000
Beginning direct materials pounds	42,100	13,000
Cost per pound	$3	$3
Direct labor budget:
Direct labor time per unit	0.4	0.6
Direct labor rate per hour	$11	$11
Budgeted income statement:
Total unit cost	$13	$21

An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $663,800 for product JB 50 and $363,600 for product JB 60, and administrative expenses of $544,300 for product JB 50 and $343,100 for product JB 60. Income taxes are expected to be 30%.

Prepare the income statement budgets for the year.

Reference no: EM13568387

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