Sheridan Inc. is preparing its annual budgets for the year ending December 31, 2022. Accounting assistants furnish the following. Product JB 50 Product JB 60 Sales budget: Anticipated volume in units 456,000 228,000 Unit selling price $20 $25 Production budget: Desired ending finished goods units 34,200 17,100 Beginning finished goods units 28.500 11,400 Direct materials budget: Direct materials per unit (pounds) 2 3 Desired ending direct materials pounds 34,200 11,400 Beginning direct materials pounds 45.600 17,100 Cost per pound $3 $4 Direct labor budget: Direct labor time per unit 0.40 0.60 Direct labor rate per hour $12 $12 Budgeted income statement: 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 $638,400 for product JB 50 and $410,400 for product JB 60, and administrative expenses of $615,600 for product JB 50 and $387,600 for product JB 60. Interest expense is $150,000 (not allocated to products). Income taxes are expected to be 20%. (a) Your Answer Correct Answer Your answer is correct. Prepare the sales budget for the year. SHERIDAN INC. Sales Budget For the Year Ending December 31, 2022 JB 50 Expected Unit Sales 456,000 JB 60 Total 228,000 (a) Your Answer Correct Answer Your answer is correct. Prepare the sales budget for the year. SHERIDAN INC. Sales Budget For the Year Ending December 31, 2022 JB 50 Expected Unit Sales Unit Selling Price Total Sales 456,000 20 $ JB 60 228,000 25 9.120.000 $ 5,700,000 (bl MacBook Air Total 14,820,000 Attempts: 1 of 1 used (b) Prepare the production budget for the year. SHERIDAN INC. Production Budget JB 50 JB 60 Save for Later Attempts: 0 of 1 used Submit