P23-2A Deleon Inc. is preparing its annual budgets for the year ending December 31, 2014.

P23-2A 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

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

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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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