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Problem 24-02A a-e (Part Level Submission) Deleon Inc. is preparing its annual budgets for the year ending December 31, 2020. Accounting assistants furnish the data shown below Product Product B 50 B 60 Sales budget Anticipated volume in units Unit selling price 404,900 201,000 $28 $22 Production budget Desired ending finished goods units Beginning finished goods units 29,800 19,900 32,200 1 11,500 Direct materials budget Direct materials per unit (pounds) Desired ending direct materials pounds Beginning direct materials pounds Cost per pound 32,100 18,400 3,100 14,300 $4 $3 Direct labor budget: Direct labor time per unit Direct labor rate per hour Budgeted income statement: 0.4 0.6 $11 $11 Total unit cost $12 $21 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 $361,000 for product JB 60, and administrative expenses of $543,000 for product JB 50 and $341,000 for product JB 60. Interest expense is $150,000 (not allocated to products). Income taxes are expected to be 30% Your answer is correct Prepare the sales budget for the year. DELEON INC. Sales Budget Total B 50 60 Expected Unit Sales 201 Unit Selling 1453 Your answer is correct. Prepare the production budget for the year. DELEON INC. Production Budget Desired Ending Finished Goods Units Goods Units By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor Attempts: 3 of 3 used Your answer is correct. Prepare the direct materials budget for the year. DELEON INC. Direct Materials Budget Total Direct Materials per Unit Total Pounds Needed for Production Desired Ending Direct Materials (Pounds) 21 632 Cost per Pound Direct Materials Cost per Pound 4911200 Total Cost of Direct Materials Purchases By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor. Attempts: 2 of 3 used Your answer is correct. 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 Total Direct Labor Time (Hours) per Unit Total Required Direct Direct Labor Cost per Hour 3153040 Total Direct Labor Cost By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor. Attempts: 2 of 3 used Prepare the budegeted multiple-step income statement for the year (Note: income taxes are not allocated to the product By accessing this Question Assistance, you will learn while you earrn points based on the Point Potential Policy set by your instructor. Attempts: 2 of 3 used Prepare the budegeted multiple-step income statement for the year. Note: income taxes are not allocated to the products) DELEON INC. Budgeted Income Statement Total JB 50 JB 60
