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Crane Inc is preparing its annual budgets for the year ending December 31, 2022. Accounting assistants furnish the data shown below. Product JB 50 Product
Crane 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 320,000 160.000 Unit selling price $30 $35 Production budget: Desired ending finished goods units 24.000 12,000 Beginning finished goods units 20.000 8.000 Direct materials budget: Direct materials per unit (pounds) 2 3 Desired ending direct materials pounds 24000 8.000 Beginning direct materials pounds 32.000 12.000 Cost per pound $4 Direct labor budget: Direct labor time per unit 0.4 Direct labor rate per hour $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 budge The latter shows selling expenses of $448,000 for product JB 50 and $288,000 for product JB 60, and administrative expenses of $432,000 for product JB 50 and $272,000 for product JB 60. Interest expense is $150,000 (not allocated to products). Income taxes are expected to be 20%. CRANE INC. Sales Budget JB 50 JB 60 Total $ $ $ $ e Textbook and Media CRANE INC. Production Budget JB 50 JB 60 e Textbook and Media CRANE INC. Direct Materials Budget JB 50 JB 60 Total $ > $ I $ $ Prepare the direct labor budget for the year. (Round Direct labor time per unit answers to 1 decimal place, eg, 52.5.) CRANE INC. Direct Labor Budget JB 50 JB 60 To > > CRANE INC. Budgeted Income Statement JB 50 JB 60 Total $ $ $ > > > $ C C S ho e Textbook and Media
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