Deleon Inc. is preparing its annual budgets for the year ending December 31,2020 . 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 $665,000 for product JB 50 and $362,000 for product JB 60, and administrative expenses of $545,000 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%. Prepare the sales budget for the year. Prepare the production budget for the year. DELEON INC. Production Budget \begin{tabular}{l} JB 50 \\ JB 60 \\ \hline \end{tabular} Beginning Finished Goods Units Expected Unit Sales Direct Labor Cost per Hour Cost per Pound Direct Materials per Unit Direct Labor Time per Unit INC. Desired Ending Direct Materials Direct Materials Purchases Total Required Units Required Production Units Total Direct Labor Cost Total Required Direct Labor Hours Beginning Direct Materials Total Materials Required Total Pounds Needed for Production Desired Ending Finished Goods Units Total Cost of Direct Materials Purchases Prepare the direct materials budget for the year. DELEON INC. Direct Materials Budget Direct Materials per Unit Direct Labor Cost per Hour Units to be Produced Total Cost of Direct Materials Purchases Total Materials Required Beginning Direct Materials (Pounds) r the year. (Round Direct labor time per unit answers to 1 decimal place, e.g. 52.5.) Beginning Finished Goods Units DELEON INC. Cost per Pound Direct Labor Budget Desired Ending Finished Goods Units Direct Materials Purchases Total Pounds Needed for Production Desired Ending Direct Materials (Pounds) Total Direct Labor Cost Total Required Units Total Required Direct Labor Hours Direct Labor Time per Unit Expected Unit Sales Prepare the direct labor budget for the year. (Round Direct labor time per unit answers to 1 decimal place, e.g. 52.5.) DELEON INC. Direct Labor Budget \begin{tabular}{llr} JB50 & JB60 & To \\ \cline { 3 - 4 } \end{tabular} Direct Materials per Unit Direct Labor Time (Hours) per Unit Expected Unit Sales Total Required Direct Labor Hours Direct Materials Purchases ent for the year. (Note: income taxes are not allocated to the products). Desired Ending Finished Goods Units Beginning Direct Materials DELEON INC. Total Required Units udgeted Income Statement Cost per Pound Required Production Units Desired Ending Direct Materials Total Cost of Direct Materials Purchases Total Direct Labor Cost Direct Labor Cost per Hour Beginning Finished Goods Units Total Pounds Needed for Production Units to be Produced Total Materials Required Prepare the budegeted multiple-step income statement for the year. (Note: income taxes are not allocated to the products). DELEON INC. Budgeted Income Statement