P9-2A Deleon Inc. is preparing its annual budgets for the year ending December 31, 2017. Accounting assistants furnish the data shown below. Product JB 50Product JB 60 Sales budget: Anticipated volume in units Unit selling price 400,000 $20 200,000 $25 Production budget: Desired ending finished goods units Beginning finished goods units 30,000 25,000 15,000 10,000 Direct materials budget: Direct materials per unit (pounds) 30,000 40,000 $3 10,000 15,000 $4 Desired ending direct materials pounds Beginning direct materials pounds Cost per pound Direct labor budget: 0.4 $12 0.6 $12 Direct labor time per unit Direct labor rate per hour 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 o $560,000 for product JB 50 and $360,000 for product JB 60, and administrative expenses of $540,000 for product JB 50 and $340,000 for product JB 60. Interest expense is $150,000 (not allocated to products). Income taxes are expected to be 30%. Instructions Prepare the following budgets for the year: Show data for each product. Ouarterly budgets should not be prepared (a) Sales (b) Production (e) Direct materials (d) Direct labor (e) Multiple-step income statement (Note: income taxes ard 00 not allocated to the products)