Deleon Inc. is preparing its annual budgets for the year ending December 31, 2014. Accounting assistants furnish the data shown below.

Product JB 50 Product JB 60

Sales budget:

Anticipated volume in units 397,600 199,300

Unit selling price $19.00 $22.00

Production budget:

Desired ending finished

goods units 25,300 19,900

Beginning finished

goods units 26,000 11,900

Direct materials budget:

Direct materials per unit (pounds) 2 3

Desired ending direct

materials pounds 28,700 10,600

Beginning direct

materials pounds 42,800 14,600

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 $11 $17

An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $655,700 for product JB 50 and $357,600 for product JB 60, and administrative expenses of $536,000 for product JB 50 and $338,800 for product JB 60. Income taxes are expected to be 30%.

Prepare the sales budget for the year

Deleon Inc.

Sales Budget

For the Year Ending December 31, 2014

JB 50 JB 60 Total

Expected Unit Sales $397,600 $199,300

Unit Selling Price $19.00 $22.00

Total Sales $___________ $______________ $__________________

Prepare the production budget for the year.

Deleon Inc.

Production Budget

For the Year Ending December 31, 2014

JB50 JB60 Total

___________________________ ________________ _________________

___: _______________________ ________________ _________________

___________________________ ________________ _________________

___ : ______________________ ________________ _________________

___________________________ ________________ _________________ ________________

Prepare the direct materials budget for the year.

Deleon Inc.

Direct Materials Budget

For the Year Ending December 31, 2014

JB 50 JB 60 Total

______________________ _______________ _______________

______________________ _______________ _______________

______________________ _______________ _______________

___ : _________________ _______________ _______________

______________________ ________________ _______________

___ : _________________ ________________ _______________

______________________ ________________ _______________

______________________ ________________ _______________

______________________ ________________ _______________ _______________

Prepare the direct labor budget for the year.

Deleon Inc.

Direct Labor Budget

For the Year Ending December 31, 2014

JB 50 JB 60 Total

_______________ ___________________ _________________

_______________ ___________________ _________________

_______________ ___________________ _________________

_______________ ___________________ _________________

_______________ ___________________ _________________ _____________

Prepare the budgeted income statement for the year. (Note: Income taxes are not allocated to the products.)

Deleon Inc.

Budgeted Income Statement

For the Year Ending December 31, 2014

JB 50 JB 60 Total

_____________________ $_________________ $_________________ $_______________

_____________________ _________________ _________________ _______________

_____________________ _________________ _________________ _______________

_____________________

_____________________ _________________ _________________ _______________

_____________________ _________________ _________________ _______________

_____________________ _________________ _________________ _______________

_____________________ _________________ _________________ _______________

_____________________ _______________

_____________________ _______________