CHAPTER 9 Deleon Inc, is preparing its annual budgets for the year ending December 31, 2014. Accounting assistants furnish the data shown below. An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $560,000 for product JB 50 and $360,000 for product JB 60 , and administrative expenses of $540,000 for product JB 50 and $340,000 for product JB 60 . Income taxes are expected to be 30%. Instuctions Prepare the following budgets for the year. Show data for each product. Quartely budgets should not be prepared. (a) Sales (b) Production (c) Direct materials (d) Direct labor (e) Income statement (Note; Income taxes are not allocated to the products.) (a) \begin{tabular}{|l|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Sales Budget } \\ \hline & Prod & Prod & Total \\ & JB50 & JB60 & Year \\ \hline Expected (Units) Sales & & & \\ \hline Unit Selling Price & & & \\ \hline Total Sales & & & \\ \hline \end{tabular} (b) (c) \begin{tabular}{|l|c|c|c|} \hline \multicolumn{1}{|c|}{ Direct Material Budget } \\ \hline & & \\ \hline & Prod & Prod & Total \\ \hline & JB50 & JB60 & Year \\ \hline Required Production Units & & & \\ \hline Direct Materials per Unit & & & \\ \hline Total Materials needed for production & & & \\ \hline Add: Desired Ending Inv. for Direct Materials & & & \\ \hline Total Materials Required & & & \\ \hline Less: Beginning Inv. For Direct Materials & & & \\ \hline Direct Matenals purchases in Pounds & & & \\ \hline Direct Material Cost Per Pound & & \\ \hline Total Cost of Direct Materials Purchases & & & \\ \hline \end{tabular} (d) (c)