part e

View Policies Show Attempt History Current Attempt in Progress Crane Inc. is preparing its annual budgets for the year ending December 31, 2022 Accounting assistants furnish the following Product JB 50 Product JB 60 Sales budget: 416,000 208,000 $20 $25 31,200 15,600 Anticipated volume in units Unit selling price Production budget Desired ending finished goods units Beginning finished goods units Direct materials budget Direct materials per unit (pounds) Desired ending direct materials pounds Beginning direct materials pounds 26,000 10,400 2 3 31.200 10,400 41.600 15,600 Cost per pound $3 $4 Direct labor budget Direct labor time per unit Direct labor rate per hour 0.40 0.60 $12 $12 Budgeted Income statement: Totalnit cost 313 $20 An accounting anaktant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget The latter shows selling expenses of $582.400 for product B 50 and $374,400 for product JB 60, and administrative expenses of 5561.400 for product JB SO and $353,600 for product 1860. Interest expense is $150,000 (not allocated to products, income taxes are expected to be 20% 24/3 E Question 5 of 8 Your answer is correct Prepare the sales budget for the year, CRANE INC. Sales Budget For the Year Ending December 31, 2022 JB 50 JB 60 Total Espected Units 416000 208000 Unit Selling Price $ 20 25 Total Sales 320000 s 5200000 $ 13520000 e Textbook and Media Attempts: 1 of 3 used (6) & your answer is correct. Prepare the production budget for the year CRANE INC. Production Budget For the Year End December 31 2022 JB SO 13 60 Expedia ROCO 200000 Your answer is correct Prepare the production budget for the year. CRANE INC. Production Budget For the Year Endine December 31, 2022 JB 60 JB 50 208000 416000 Expected Unit Sales 31200 15600 Add Desired Ending Finished Goods Units 147200 023600 Total Required Units 10400 26000 Beginning Fished Goods Units 421200 233200 Required Production Unit e Textbook and Media Attempts: 1 of 3 used (c) Your answerts correct. Prepare the direct materials budget for the year CRANE INC. Direct Materials Budget For the Year Endin December 31, 2022 JB 50 JD 60 121200 211200 U Proch DU 41600 Beginning Direct Materials (Pounds! 156001 636000 Direct Materials Purchases 32000 s 3 $ Cost per Pound $ 2496000 2537600 Total Cost of Direct Materials Purchases e Textbook and Media Attempts: 1 of 3 used (d) Your answer is correct Prepare the direct labor budget for the year. (Round Direct lobortime per unit answers to 1 decimal place, eg. 525) CRANE INC. Direct Labor Budget For the Year Ending December 31, 2022 JB 50 JB 60 Total is to be Produced 421200 213200 Labor Time Hour Der Un 04 08 Ingredo sboro 168480 122920 bor Coster Hour 5 12 5 12 Director Cout 2021760 s 1535040 $ eTextbook and Media Attempts: 2 of 3 used le) Prepare the budgeted multiple-step income statement for the year (Note: Income taxes are not allocated to the products), CRANE INC. Budgeted Income Statement For the Year Ending December 31, 2022 JB 50 JB 60 Total