Please help me solve the last part of the question with steps.
Indigo Inc. is preparing its annual budgets for the year ending December 31, 2017. Accounting assistants furnish the data shown below Product Product JB 50 JB 40 Sales budget: Anticipated volume in units 403,400 203,700 Unit selling price $22 $27 Production budget: Desired ending finished goods units 29.900 17.700 Beginning finished goods units 34,700 12 000 Direct materials budget: Direct materials per unit (pounds) 1 2 Desired ending direct materials pounds 32.800 16.400 Beginning direct materials pounds 13,300 Cost per pound Direct labor budget: Direct labor time per unit 0.4 0.6 Direct labor rate per hour $10 $10 Budgeted income statement: Total unit cost $13 $21 An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows seling expenses of $642 000 for product JB 50 and $364,000 for product JB 40, and administrative expenses of $544,000 for product JB 50 and $343,000 for product JB 60. Interest expense is $150,000 (not allocated to products). Income taxes are expected to be 30%.[al Your answer is correct. Prepare the sales budget for the year. INDIGO INC. Sales Budget For the Year Ending December 31, 2017 JB 50 JB 40 Total Expected unit sales 403400 203700 Unit seling price 22 Total sales 8874800 5497900 14374700 eTextbook and Media Assistance Used Attempts: 1 of 1 used[b) Your answer is correct. Prepare the production budget for the year. INDIGO INC. Production Budget For the Year Ending December 31, 2017 JB 50 JB 40 Expected Unit Sales 403400 Add Desired Ending Finkhed Goods Units 29900 Total Required Units Less Beginning Finkhed Goods Units 24700 120 Required Production Units 398400 eTextbook and Media Attempts: 1 of 1 usedYour answer is correct. Prepare the direct materials budget for the year. INDIGO INC. Direct Materials Budget For the Year Ending December 31, 2017 JB 50 JB 40 Units to be Produced 398600 Direct Materials per Unit Total Pounds Needed for Production 398600 Add Desired Ending Direct Materials 32800 Total Materials Required 431400 Less Begining Direct Materials 43800 13 Direct Materials Purchases 387600 Cost per Pound Total Cost of Direct Materials Purchases 1 162800 eTextbook and Media Attempts: 2 of 1 used(d) Your answer is correct. Prepare the direct labor budget for the year. (Round Direct labor time per unit answers to 1 decimal place, e.g. 52.7) INDIGO INC. Direct Labor Budget For the Year Ending December 31, 2017 JB 50 JB 40 Units to be Produced 398600 209400 Direct Labor Time per Unit 0.4 Total Required Direct Labor Hours 159440 1236 40 Direct Labor Cost per Hour 10 10 Total Direct Labor Cost 1594400 1256400 $ eTextbook and Media Attempts: 1 of 3 used[e] Prepare the budgeted multiple-step income statement for the year. (Note: income taxes are not allocated to the products). INDIGO INC. Budgeted Income Statement 18 50 To Sales 8874800 5499900 5 Cost of Goods Sold Gross Profit Operating Expenses Selling Expenses Administrative Expenses Total Operating Expenses Income from Operations $ Interest Expense Income before Income Taxes Income Tax Expense Net Income / (Loss] eTextbook and Media Assistance Used Save for Later Last saved 1 hour ago. Attempts: 0 of 3 used Submit Arewer Saved work will be auto-submitted on the due date
