Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Problem 22-02A Deleon Inc. is preparing its annual budgets for the year ending December 31, 2020. Accounting assistants furnish the data shown below. Product JB

image text in transcribedimage text in transcribedimage text in transcribed

Problem 22-02A 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 60 403,400 $22 201,800 $27 27,500 32,800 17,200 13,800 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 Direct labor budget: Direct labor time per unit Direct labor rate per hour Budgeted income statement: Total unit cost 31,100 42,600 17,800 12,000 0.3 $10 0.6 $10 $13 $22 An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $662,000 for product B 50 and $361,000 for product JB 60, and administrative expenses of $541,000 for product B 50 and $345,000 for product B 60. Interest expense is $150,000 (not allocated to products). Income taxes are expected to be 30%. DELEON INC. Direct Labor Budget For the Year Ending December 31, 2020 JB 50 JB 60 Total DELEON INC. Budgeted Income Statement For the Year Ending December 31, 2020 JB 50 JB 60 into To: IAS

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Sound Investing, Chapter 7 - Cash Versus Accrual

Authors: Kate Mooney

1st Edition

0071719296, 9780071719292

More Books

Students also viewed these Accounting questions