Product JB 50 Product JB 60 Sales budget: Anticipated volume in units 504,000 252,000 Unit selling price $35 $40 Production budget: Desired ending finished goods units 37,800 18,900 Beginning finished goods units 31,500 12,600 Direct materials budget: Direct materials per unit (pounds) 2 3 Desired ending direct materials pounds 37,800 12,600 Beginning direct materials pounds 50,400 18.900 Cost per pound $3 $4 4 Direct labor budget: Direct labor time per unit 0.4 0.6 Direct labor rate per hour $12 $12 Direct labor time per unit 0.4 0.6 Direct labor rate per hour $12 $12 Budgeted income statement: 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 $705,600 for product JB 50 and $453,600 for product JB 60, and administrative expenses of $680,400 for product JB 50 and $428,400 for product JB 60. Interest expense is $150,000 (not allocated to products). Income taxes are expected to be 20%. Prepare the sales budget for the year. SHEFFIELD INC. Sales Budget JB 50 JB 60 Total Prepare the sales budget for the year. SHEFFIELD INC. Sales Budget JB 50 JB 60 Total ta $ $ ta $ $ to $ Prepare the production budget for the year. SHEFFIELD INC. Production Budget JB 50 JB 60 Direct Materials Budget JB 50 JB 60 $ $ $ $ SHEFFIELD INC. Direct Labor Budget JB 50 JB 60 Total ta $ $ tA $ $ ta ta SHEFFIELD INC. Budgeted Income Statement JB 50 JB 60 Total $ $ $ $ A A A