Pina Inc. is preparing its annual budgets for the year ending December 31, 2017. Accounting assistants furnish the data shown below. Product JB 50 Product JB 60 402,300 $23 203,700 $27 28,100 34,100 18,100 12,500 Sales budget: 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 Cost per pound Direct labor budget: Direct labor time per unit Direct labor rate per hour Budgeted income statement: Total unit cost 34,000 44,600 $3 18,500 13,400 0.6 0.4 $12 $12 $14 $22 An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $661,000 for product JB 50 and $361,000 for product JB 60, and administrative expenses of $545,000 for product JB 50 and $344,000 for product JB 60. Interest expense is $150,000 (not allocated to products). Income taxes are expected to be 30%. Budgeted Income Statement For the Year Ending December 31, 2017 JB 50 JB 60 Total T Sales - T 9,252,900 5,499,900 14,752,800 Cost of Goods Sold T 5,632,200 4,481,400 10,113,600 Gross Profit 3,620,700 1,018,500 4,639,200 T Operating Expenses T Selling Expenses T 661,000 361,000 1,022,000 Administrative Expenses 545,000 344,000 889,000 T Total Operating Expenses 1,206,000 705,000 1,911,000 Total Operating Expenses sl 2,414,700 313,500 2,728,200 CONTOHHT Ending Inventory 1,690,290 Ending Inventory 219,450 Ending Inventory 1,909,740 T Net Income / (Loss)