prepare the budgeted multiple step income statement for the year. (NOTE: income taxes are bot allocated to the products).

Bramble Inc. is preparing its annual budgets for the year ending December 31, 2022. Accounting assistants furnish the data shown below Product JB 50 Product JB 60 384,000 192,000 $35 $40 28,800 14,400 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 24,000 9,600 2 3 28,800 9,600 38,400 14.400 $3 $4 Direct labor budget: 2 3 Direct materials per unit (pounds) Desired ending direct materials pounds Beginning direct materials pounds 28.800 9,600 38,400 14.400 $3 $4 Cost per pound Direct labor budget: Direct labor time per unit Direct labor rate per hour Budgeted income statement: 0.4 0.6 $12 $12 Total unit cost $13 $20 An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $537,600 for product JB 50 and $345,600 for product JB 60, and administrative expenses of $518,400 for product JB 50 and $326,400 for product JB 60. Interest expense is $150,000 (not allocated to products). Income taxes are expected to be 20%. BRAMBLE INC. Budgeted Income Statement JB 50 JB 60 Total > S >