Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Propiem U2A (Part Level Suomission) Deleon Inc. is preparing its annual budgets for the year ending December 31, 2020. Accounting assistants furnish the data shown

image text in transcribed
image text in transcribed
image text in transcribed
Propiem U2A (Part Level Suomission) 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 B 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 $10 0.6 $10 512 $21 An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $661,000 for product B 50 and $361,000 for product JB 60, and administrative expenses of $541,000 for product 18 50 and $341.000 for product 1860. Interest expense is $150,000 (not allocated to products) Income taxes are expected to be 30% 38 Tors Presere the production budget for the per DELEOR INC 1 1 LINK Prepare the direct materialet for the year DELEON INC Direct Material Budit Total DELEON IN Budgetcom Prepare the direct mes budget for the year DELRON INC Direct Material 35 Total # DONNE 3850 Total 1 Prepare the director budget for the year. (Round Director time per unitate decimal DELION INC Direct Lahr Buget 2650 Total 1 1 5

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

Step: 3

blur-text-image

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

Financial Accounting

Authors: V.K. Gopal

1st Edition

9788174467461

More Books

Students also viewed these Accounting questions

Question

How can information reduce risk when making a decision?

Answered: 1 week ago