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Please show answer and calculations with excel so I can clearly see where I keep messing this up. Thank you! Deleon Inc. is preparing its

Please show answer and calculations with excel so I can clearly see where I keep messing this up. Thank you!

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Deleon Inc. is preparing its annual budgets for the year ending December 31, 2020. Accounting assistants furnish the data shown below. Rectangu Product Product JB 60 JB 50 Sales budget: Anticipated volume in units 403.200 203,300 Unit selling price $23 $28 Production budget: Desired ending finished goods units 28.000 17,000 Beginning finished goods units 33,500 12.100 Direct materials budget: Direct materials per unit (pounds) 1 2 Desired ending direct materials pounds 33,100 16,400 Beginning direct materials pounds 44,900 14,900 Cost per pound $3 $4 Direct labor budget: Direct labor time per unit 0.3 0.6 Direct labor rate per hour $11 $11 Budgeted income statement: Total unit cost $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 $665,000 for product JB 50 and $362.000 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%. Prepare the budegeted multiple-step income statement for the year. (Note: income taxes are not allocated to the products). DELEON INC. Budgeted Income Statement Rectangu JB 50 JB 60 Total $ $ $

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