Problem 22-02A (Part Level Submission) 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 60 401,000 $21 201,000 $27 26,000 31,000 16,000 11,000 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 1 31,000 41,000 $2 2 16,000 11,000 $3 0.3 0.6 $10 $10 $12 $21 An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter show selling expenses of $661,000 for product 8.50 and $361,000 for product JB 60, and administrative expenses of $541,000 for product JB 50 and $341,000 for product B 60. Interest expense is $150,000 (not allocated to products). Income taxes are expected to be 30%