LearnCo Sales Budget For the Year Ending December 31, 20Y2 Product Unit Sales Volume Unit Selling Price Total Sales Basic Abacus 36,000 V $7.00 $252,000 Deluxe Abacus 36,000 V 13.00 V 468.000 Totals 72,000 $720,000 LearnCo Production Budget For the Year Ending December 31, 20Y2 Units Basic Units Deluxe Expected units to be sold (from Sales Budget) Plus desired ending inventory, December 31, 20Y2 1,000 3,000 Total units required Less estimated beginning inventory. January 1, 20Y2 1,050 2,100 Total units to be produced 35.950 36,900 Direct Materials Data Table Wood Pieces Packages required per unit: Basic abacus 1 Deluxe abacus 2 Cost per package: Wood pieces $0.25 Beads $0.25 Units to be produced (from Production Budget): Deluxe abacus 36,900l Beads LearnCo Direct Materials Purchases Budget For the Year Ending December 31, 20Y2 Direct Materials Wood Pieces Beads Total Packages required for production: Basic abacus 35,950 71,900 Deluxe abacus 110,700 Plus desired ending inventory, December 31, 20Y2 2.200 5,000 @ Packages required for production: Plus desired ending inventory, December 31, 20Y2 2.200 5,000 Total packages required Less estimated beginning inventory, January 1, 20Y2 3,500 4,500 Total packages to be purchased Unit price (per package) x $0.25 x Total direct materials to be purchased $27,113 $72,888 Direct Labor Data Table Gluing Assembly Hours required per unit: Basic abacus 0.10 0.10 Deluxe abacus 0.10 0.20 Labor hourly rate: Gluing $12.00 Assembly $17.00 Units to be produced (from Production Budget): Basic abacus Deluxe abacus LeamCo Direct Labor Cost Budget For the Year Ending December 31, 20Y2 Hours required for production: Basic abacus Deluxe abacus Total hours required Hourly rate Total direct labor cost After reviewing the following factory overhead cost budget, you note that LearnCo has completed the budget with the exception of one amount. Fit! in the missing amount. LearnCo Factory Overhead Cost Budget For the Year Ending December 31, 20Y2 Indirect factory wages $5,400 Depreciation of plant and equipment 1.450 Total factory overhead cost $18,100 LearnCo Selling and Administrative Expenses Budget For the Year Ending December 31, 20Y2 Selling expenses: Sales salaries expense $45,000 Advertising expense 15,000 Travel expense 5.400 Total selling expenses $65,400 Administrative expenses: Administrative expenses: Officers' salaries expense $85,000 Office salaries expense 35,000 Office rent expense 26,000 Office supplies expense 6,400 Miscellaneous administrative expenses 1,600 Total administrative expenses 154,000 Total selling and administrative expenses $219,400Budgeted Income Statement Data Table Interest revenue for the year $2,000 Interest expense for the year $1,500 LearnCo's income tax rate 40% Question not attempted. LearnCo Score: 0/52 Budgeted Income Statement For the Year Ending December 31, 20Y2 1 Revenue from sales 2 Cost of goods sold 3 Gross prot 4 Selling and administrative expenses: 5 Sellinq expenses 10 11 12 13 14 Cost of goods sold Gross prot Selling and administrative expenses: Selling expenses Administrative expenses Total selling and administrative expenses Income from operations Other revenue and expense: Interest revenue Interest expense Income before income tax Income tax Net income