please help me complete parts a,b,c,d,e
Crane Inc. is preparing its annual budgets for the year ending December 31, 2022. Accounting assistants furnish the following Product JB 50 Product JB 60 416,000 208,000 520 $25 31.200 15,600 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 26.000 10,400 2 3 31,200 10,400 41,600 15,600 $3 54 $3 $4 0.40 0.60 Cost per pound Direct labor budget: Direct labor time per unit Direct labor rate per hour Budgeted income statement: Total unit cost $12 $12 $13 $20 An accounting assistant has prepared the detailed manufacturing overhead budget and the seling and administrative expense budget. The latter shows selling expenses of $582.400 for product JB 50 and $374,400 for product JB 60, and administrative expenses of $561,600 for product JB 50 and $353,600 for product JB 60. Interest expense is $150,000 (not allocated to products). Income taxes are expected to be 20% (a) Your answer is partially correct. Prepare the sales budget for the year. CRANE INC. Sales Budget JB 50 JB 60 Total Expected Unit Sales $ Unit Selling Price $ $ Total Sales Teythont and Media 5.23715 E (b) Your answer is partially correct Prepare the production budget for the year. CRANE INC. Production Budget For the Year Ending December 31, 2022 JB 50 JB 60 Expected Unit Sales Add: Desired Ending Finished Goods Units Total Required Units LILIAN HATAN Less Beginning Finished Goods Units Required Production Units Mata CRANE INC. Direct Materials Budget For the Year Ending December 31, 2022 JB 50 JB 60 Units to be Produced Direct Materials per Unit Total Pounds Needed for Production Add : Desired Ending Direct Materials (Pounds) Total Materials Required Less Beginning Direct Materials (Pound) Direct Materials Purchases $ $ Costper Pound $ S Total Cont of Direct Materials Purchases Your answer is partially correct. Prepare the direct labor budget for the year. (Round Direct labor time per unit answers to 1 decimal place, eg. 52.5.) CRANE INC. Direct Labor Budget For the Year Ending December 31, 2022 JB 50 JB 60 Total Units to be produced Direct Labor Time {Hours) per Unit LCC Total Required Direct Labor Hours Direct Labor Cost per Hour $ Total Direct Labor Cost e Textbook and Media 5.23 / 15 III JB 50 JB 60 Total Sales $ $ Cost of Goods Sold Gross Profit Operating Expenses Selling Experises DC Administrative Expenses Total Operating Expenses Income from Operations Interest Expense Income before Income Taxes Income Tax Expense Net Income /(Loss)
