Lily Inc. is preparing its annual budgets for the year ending December 31,2022 . 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 $616,000 for product JB 50 and $396,000 for product JB 60 , and administrative expenses of $594,000 for product JB50 and $374,000 for product JB60. Interest expense is $150,000 (not allocated to products). Income taves are expected to be 20%. Fodad this and v wennen Prepare the production budget for the year. Prepare the direct materials budget for the year. (d) The parts of this question must be completed in order. This part will be available when you complete the part above. (e) The parts of this question must be completed in order. This part will be available when you complete the part above