Sheffield Inc. is preparing its annual budgets for the year ending December 31, 2017. Accounting assistants furnish the data shown below. Product JB 50 Product JB 60 Sales budget: Anticipated volume in units 403,200 203,400 $22 $28 26,700 19,700 32,500 11,400 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 2. 19,500 34,300 44,300 11,200 $3 $3 0.4 0.6 Direct labor rate per hour $12 $12 Budgeted income statement: Total unit cost $13 $13 $21 $21 An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $663,000 for product JB 50 and $364,000 for product JB 60, and administrative expenses of $542,000 for product JB 50 and $341,000 for product JB 60. Interest expense is $150,000 (not allocated to products). Income taxes are expected to be 30%. Prepare the sales budget for the year. SHEFFIELD INC. Sales Budget For the Year Ending December 31, 2017 - JB 50 JB 60 Total Expected unit sales n3 203400.00 Unit selling price 22.00 28.00 Total sales 8870400.00 | 5695200.00 14565600.00 Prepare the production budget for the year. SHEFFIELD INC. Production Budget JB 50 JB 60