Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Swifty Inc. is preparing its annual budgets for the year ending December 31, 2022. Accounting assistants furnish the data shown below. Product JB 50 Product:
Swifty Inc. is preparing its annual budgets for the year ending December 31, 2022. Accounting assistants furnish the data shown below. Product JB 50 Product: JB 60 Sales budget: Anticipated volume in units 328,000 164,000 Unit selling price $20 $25 Production budget: Desired ending finished goods units 24.600 12.300 Beginning finished goods units 20,500 8.200 Direct materials budget: Direct materials per unit (pounds) 2 3 Desired ending direct materials pounds 24,600 8.200 Beginning direct materials pounds 32.800 12.300 Question 2 of 2 < Beginning direct materials pounds 32,800 12,300 Cost per pound $3 $4 Direct labor budget: Direct labor time per unit 04 0.6 Direct labor rate per hour $12 $12 Budgeted income statement: Total unit cost $13 $20 20 -150 An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $459.200 for product JB 50 and $295,200 for product JB 60, and administrative expenses of $442,800 for product JB 50 and $278.800 for product JB 60. Interest expense is $150,000 (not allocated to products). Income taxes are expected to be 20% (a) Prepare the sales budget for the year. SWIFTY INC. Sales Budget eTextbook and Media: Save for Later JB 50 $ JB 60 Total -750 E Attempts: 0 of 3 used Submit An
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started