pin Progress Sheridan Inc is preparing its annual budgets for the year ending December 31, 2022. Accounting assistants furnish the following Product JB 50 Product 8 60 Sales budget 456,000 228.000 $20 $25 34 200 17.100 Anticipated volume in units Unit selling price Production budget Desired ending inished goods units Beginning finished goods units Direct materials budget Direct materials per unit (pounds) Desired ending direct materials pounds Beginning direct materiais pounds 20.500 11.400 2 3 34,200 11.400 17,100 45,600 8 Cost per pound 53 54 Direct labor budget Direct labor time per unit 0.40 0.60 Direct labor rate per hour $12 512 Budgeted income statement Total unit cost $13 520 An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget The latter shows selling expenses of $638,400 for product JB SO and $410,400 for product B 60 and administrative openses of $615.600 for product B 50 and 5387600 for product JB 60 interest expense is $150.000 (not allocated to products Income are expected to be 20% Attempts: 2 of 5 used (b) Prepare the production budget for the year SHERIDAN INC. Production Budget JB 50 JB 60 $ (c) Prepare the direct materials budget for the year. SHERIDAN INC. Direct Materials Budget JB 50 JB 60 Total > > 5 5