please correct the red ones. please do not answer unless you are sure. it is my last attempt
Deleon Inc. is preparing its annual budgets for the year ending December 31, 2020. Accounting assistants furnish the data shown below. Product JB 50 Product JB 60 Sales budget: Anticipated volume in units 404,400 $22 201,000 $27 Unit selling price Production budget: Desired ending finished goods units 28,800 17,600 Beginning finished goods units 34,100 13,100 Direct materials budget: Direct materials per unit (pounds) 1 2 Desired ending direct materials pounds 34,600 41,100 $2 16,400 13,000 Beginning direct materials pounds Cost per pound Direct labor budget: Direct labor time per unit 0.6 $10 Direct labor rate per hour Budgeted income statement: Total unit cost $13 $22 Prepare the production budget for the year. DELEON INC. Production Budget For the Year Ending December 31, 2020 JB 50 JB 60 Expected Unit Sales 404.400 201,000 Add : Desired Ending Finished Goods Units 28.800 17,600 Total Required Units 433,200 218,600 34,100 13,100 i Less : Beginning Finished Goods Units Required Production units Required Production Units 39,100 205,500 DELEON INC. Direct Materials Budget For the Year Ending December 31, 2020 JB 50 JB 60 Total Units to be Produced 399,100 205,500 Direct Materials per Unit 2 Total Pounds Needed for Production 399,100 411,000 Add : Desired Ending Direct Materials (Pounds) 34,600 16,400 Total Materials Required 433,700 427,400 Less : Beginning Direct Materials (Pounds) 41,100 i 13,000 i Direct Materials Purchases chases 392,600 414,400 1 7 392.600 C 21 $ Cost per Pound Cost per Pound $ Total Cost of Direct Materials Purchases $ 785,200 1,657,600 2,442,800 Prepare the direct labor budget for the year. (Round Direct labor time per unit answers to 1 decimal place, e.g. 52.5.) DELEON INC. Direct Labor Budget For the Year Ending December 31, 2020 JB 50 JB 60 Total Units to be Produced 399,100 205,500 Direct Labor Time (Hours) per Unit 0.6 Total Required Direct Labor Hours [ 119,730 123,300 Total Required Direct Labor Hours Direct Labor Cost per Hour Total Direct Labor Cost 219,730 10 2197.00 $ 123,300 10 120000 D Total Direct Labor Cost [ 1,197,300 1,233.000 2,430,300 2420.00 Prepare the budegeted multiple-step income statement for the year. (Note: income taxes are not allocated to the products). DELEON INC. Budgeted Income Statement For the Year Ending December 31, 2020 JB 50 JB 60 Total Sales 5.427,000 $ 14,323,800 Cost of Goods Sold 8.896.800 5.257.2001 3.639.500 4.422.000 9,679,200 Gross Profit Gross Profit 3,639,600 2.005.000 4,644,600 4.644,600 Operating Expenses Selling Expenses 662,000 365.000 i 1,027,000 Administrative Expenses 545.000 345,000 890,000 i Total Operating Expenses 1,207,000 710,000 1.917,000 i Income from Operations 4846600 $ 1715000 6561600 Income before Income Taxes 2.727,600 Income Tax Expense 773,280 Interest Expense 150,000 Net Income /(Loss) 1,804,320
