Lily 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 336,000 168.000 Unit selling price $25 $30 Production budget: Desired ending finished goods units 25,200 12,600 Beginning finished goods units 21,000 8,400 Direct materials budget: Direct materials per unit (pounds) 2 3 Desired ending direct materials pounds 25,200 8,400 Beginning direct materials pounds 33,600 12,600 Cost per pound $3 $4 4 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 $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 $470,400 for product JB 50 and $302,400 for product JB 60, and administrative expenses of $453,600 for product JB 50 and $285,600 for product JB 60. Interest expense is $150,000 (not allocated to products). Income taxes are expected to be 20%. Prepare the sales budget for the year. LILY INC. Sales Budget JB 50 JB 60 Total > $ Budgeted Income statement! Total unit cost $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 $470,400 for product JB 50 and $302,400 for product JB 60, and administrative expenses of $453,600 for product JB 50 and $285,600 for product JB 60. Interest expense is $150,000 (not allocated to products). Income taxes are expected to be 20%. Prepare the sales budget for the year. LILY INC. Sales Budget JB 50 JB 60 Total $ $ $ $ $ Prepare the production budget for the year. LILY INC. Production Budget JB 50 JB 60 $ $ $ $ $ Prepare the direct labor budget for the year. (Round Direct labor time per unit answers to 1 decimal place, e.g. 52.5.) LILY INC. Direct Labor Budget JB 50 JB 60 Total > >