below. Product JB 50 Product JB 60 Sales budget: Anticipated volume in units 404,400 204,600 Unit selling price $21 $27 Production budget: Desired ending finished goods units 27,900 16,900 Beginning finished goods units 34,100 13,400 Direct materials budget: Direct materials per unit (pounds) 1 2 Desired ending direct materials pounds 32,900 18,100 Beginning direct materials pounds 43,900 11,100 Cost per pound $2 $4 Direct labor budget: Direct labor time per unit 0.3 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 $664,000 for product JB 50 and $364,000 for product JB 60, and administrative expenses of $542,000 for product JB 50 and $344,000 for product JB 60. Interest expense is $150,000 (not allocated to products). Income taxes are expected to be 30%. 17 Topic 07 Assignment - Ch 13-14 Question 1 of 4 < > Prepare the sales budget for the year. GROUPER INC. Sales Budget For the Year Ending December 31, 2017 Expected unit sales JB 50 404400 Unit selling price $ $21.00 Total sales $8,492,400 eTextbook and Media JB 60 Total 204600 11.21/15 $27.00 $5,524,200 $ $14,016,600 Assistance Used Attempts: 1 of 3 used Production Budget For the Year Ending December 31, 2017 Expected Unit Sales Add : Desired Ending Finished Goods Units Total Required Units JB 50 $404000 27.900 JB 60 204,600 16,900 431900 221,500 Less : Beginning Finished Goods Units -34,100 i -13,400 i Required Production Units $397,800 208,100 eTextbook and Media Assistance Used Attempts: 3 of 3 used Total Materials Required Direct Materials Budget December 31, 2017 JB 50 JB 60 398200 208100 Direct Materials per Unit 2 Total Pounds Needed for Production 398200 416200 Add v Desired Ending Direct Materials 32900 18100 Total Materials Required Less : Beginning Direct Materials 431100 434300 (43900) (11100) Total Materials Required 387200 423200 Cost per Pound $ 2 4 Total Cost of Direct Materials Purchases $ 774400 $ 1692800 Prepare the direct labor budget for the year. (Round Direct labor time per unit answers to 1 decimal place, e.g. 52.7.) GROUPER INC. Direct Labor Budget For the Year Ending December 31, 2017 JB 50 398200 JB 60 To 208100 Units to be Produced Direct Labor Time per Unit Total Required Direct Labor Hours Direct Labor Cost per Hour Total Direct Labor Cost 6 0.3 119460 0.6 124860 11 $ 11 1314060 $ 1373460 $ Prepare the budgeted multiple-step income statement for the year. (Note: income taxes are not allocated to the products). > A GROUPER INC. Budgeted Income Statement For the Year Ending December 31, 2017 JB 50 8,492,400 JB 60 Total 5,524,200 $ 14,016,600 Sales Cost of Goods Sold Gross Profit Operating Expenses Selling Expenses Administrative Expenses Total Operating Expenses Income from Operations $ $ Interest Expense Income before Income Taxes Income Tax Expense Net Income/(Loss)