Concord Inc. is preparing its annual budgets for the year ending December 31, 2022. Accounting assistants furnish the data shown below. Product JB 50 Product JB 60 Sales budget: Anticipated volume in units 344,000 172,000 Unit selling price $35 $40 Production budget: Desired ending finished goods units 25,800 Beginning finished goods units 21,500 Direct materials budget: Direct materials per unit (pounds) 2 Desired ending direct materials pounds 25,800 Beginning direct materials pounds 34,400 Cost per pound $3 Direct labor budget Direct labor time per unit 04 Direct labor rate per hour $12 12,900 8,600 3 8,600 12,900 $4 0.6 $12 Direct labor rate per hour $12 $12 Budgeted income statement: Total unit cost $13 $20 An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $481,600 for product JB 50 and $309,600 for product JB 60, and administrative expenses of $464,400 for product JB 50 and $292,400 for product JB 60. Interest expense is $150,000 (not allocated to products). Income taxes are expected to be 20% Prepare the sales budget for the year. CONCORD INC. Sales Budget Total $ JB 50 JB 60 Prepare the production budget for the year. eTextbook and Media CONCORD INC. Production Budget JB 50 JB 60 CAD Prepare the direct materials budget for the year. $ $ CONCORD INC. Direct Materials Budget JB 50 $ JB 60 $ Prepare the direct labor budget for the year. (Round Direct labor time per unit answers to 1 decimal place, e.g. 52.5.) CONCORD INC. Direct Labor Budget JB 50 JB 60 Total $ $ Prepare the budegeted multiple-step income statement for the year. (Note: income taxes are not allocated to the products). CONCORD INC. Budgeted Income Statement JB 50 Total $ $ JB 60 eTextbook and Media $