An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $662,000 for product JB 50 and $362,000 for product JB 60, and administrative expenses of $542,000 for product JB 50 and $345,000 for product JB 60. Interest expense is $150,000 (not allocated to products). Income taxes are expected to be 30%. Prepare the budegeted multiple-step income statement for the year. (Note: income taxes are not allocated to the products).

		Product JB 50		Product JB 60
Sales budget:
Anticipated volume in units		403,200		205,000
Unit selling price		$22		$27
Production budget:
Desired ending finished goods units		26,300		16,000
Beginning finished goods units		31,200		13,300
Direct materials budget:
Direct materials per unit (pounds)		2		2
Desired ending direct materials pounds		33,300		17,900
Beginning direct materials pounds		43,500		13,100
Cost per pound		$2		$3
Direct labor budget:
Direct labor time per unit		0.4		0.6
Direct labor rate per hour		$12		$12
Budgeted income statement:
Total unit cost		$12		$22