Novak Inc. is preparing its annual budgets for the year ending December 31, 2017. Accounting assistants furnish the data shown below Product 402.000 203.900 $20 19.00 27,000 34.900 Sales budget Anticipated volume in units Unit selling price Production budget Desired ending finished goods Beginning finished goods units Direct material budget Direct materials per unit (pounds) Desired ending direct materiale pounds Beginning direct materials pounds Cost per pound Direct laber budget Direct labor time per unit Direct laborate per hour Budgeted Income statements Total unit cout 18,500 2 32.100 43.000 53 3 0.4 312 0.6 512 $14 121 An accounting assistant has prepared the detailed manufacturing overhead budget and the teling and administrative budget. The latter how of products and s. 30 60, and administrative expenses of 5543,000 for product 8 50 and $342.000 for product. Intereste 150.000 (not a reducta com rectadt Prepare the sales budget for the year Shoot CALERATOR Prepare the sales budget for the year. NOVAK INC Sales Budget 38 50 JB 60 Total Expected unit sales Unit selling price Total sales Prepare the production budget for the year NOVAK INC Production Budget JB SO JB 60 Prepare the production budget for the year. NOVAK INC. Production Budget JB 50 JB 60 CALL RCES work for Prepare the direct materials budget for the year. NOVAK INC. Direct Materials Budget JB 50 JB 60 Total tudy Prepare the direct labor Budget for the year (Round Direct labor time per unit answers to 1 decimal place, g. 52.7.) Rights Reseed Division of an Prepare the direct labor budget for the year. (Round Direct labor time per unit answers to 1 decimal place, e.g. 52.7.) NOVAK INC. Direct Labor Budget IB 50 JB 00 Total 7 Prepare the budgeted multiple-step income statement for the year. (Note: income taxes are not allocated to the products) NOVAK INC. Budgeted Income Statement JB SO 38 60 Total