Oriole Inc. is preparing its annual budgets for the year ending December 31, 2022. Accounting assistants have provided the following data: Sales budget Product LN 35 Product LN 40 Expected volume in units 402,000 237,000 Unit selling price $29 $34 Production budget Desired ending finished good units 30,000 22,000 Beginning finished goods units 22,000 14,000 Direct materials budget: Direct materials per unit (kilograms) 3 Desired kilograms of ending direct materials 50,000 15,000 Beginning kilograms of direct materials 42,000 11,000 Cost per kilogram $2 $3 Direct labour budget Direct labour time per unit (hours) 0.50 0.80 Direct labour rate per hour $13 $13 Budgeted income statement Total unit cost $12 $22 An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expenses budget. The latter shows selling expenses of $842,000 for product LN 35 and $390,000 for product LN 40, and administrative expenses of $514,000 for product LN 35 and $180,000 for product LN 40. Income taxes are expected to be 30%. Prepare the sales budget for the year. Expected sales in units Unit selling price Total sales ORIOLE INC. Sales Budget For the Year Ending December 31, 2022 LN 35 I LN 40 Total Prepare the production budget for the year. Question Part Score ORIOLE INC. Production Budget For the Year Ending December 31, 2022 LN 35 I LN 40 --/4 Prepare the direct materials budget for the year. ORIOLE INC. Direct Materials Budget For the Year Ending December 31, 2022 LN 35 $ I LN 40 Prepare the direct labour budget for the year. (Round direct labour hours per unit to 2 decimal places, e.g. 0.15.) ORIOLE INC. Direct Labour Budget For the Year Ending December 31, 2022 LN 35 LN 40 Total Question Part Score $ I $ --/4 Prepare the budgeted income statement for the year. (Note: Income taxes are not allocated to the products.) ORIOLE INC. Budgeted Income Statement For the Year Ending December 31, 2022 LN 35 LN 40 I $