(Graded) Question 1 of 1 4/5 III Bonita 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 360,000 180,000 Unit selling price $30 $35 Production budget: Desired ending finished goods units 27,000 13,500 Beginning finished goods units 22,500 9,000 2 3 Direct materials budget: Direct materials per unit (pounds) Desired ending direct materials pounds Beginning direct materials pounds 27,000 9.000 36,000 13,500 Cost per pound $3 $4 4/5 Question 1 of 1 TIL Prepare the budegeted multiple-step income statement for the year. (Note: income taxes are not allocated to the products) BONITA INC. Budgeted Income Statement For the Year Ending December 31, 2022 JB 50 JB 60 Total Sales 4/5 HIT 22,500 9,000 2 3 27.000 9,000 36,000 13,500 Beginning finished goods units Direct materials budget Direct materials per unit (pounds) Desired ending direct materials pounds Beginning direct materials pounds Cost per pound Direct labor budget Direct labor time per unit Direct labor rate per hour Budgeted income statement Total unit cost $3 $4 04 0.6 $12 $12 $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 $504,000 for product JB 50 and $324,000 for product JB 60, and administrative expenses of $486,000 for product JB 50 and $306,000 for product JB 60. Interest expense is $150,000 (not allocated to products). Income taxes are expected to be 20%