Vaughn Inc. is preparing its annual budgets for the year ending December 31, 2022. Accounting assistants furnish the data shown below. Product Product JB 50 JB 60 Sales budget: Anticipated volume in units 496.000 248,000 Unit selling price $25 $30 Production budget: Desired ending finished goods units 37.200 18.600 Beginning finished goods units 31,000 12.400 Direct materials budget: Direct materials per unit (pounds) Desired ending direct materials pounds 37.200 12.400 Beginning direct materials pounds 49.600 18.600 Cost per pound $4 Direct labor budget: 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 $694,400 for product JB 50 and $446,400 for product JB 60, and administrative expenses of $669,600 for product JB 50 and $421,600 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. VAUGHN INC. Sales Budget JB 50 JB 60 Total $VAUGHN INC. Production Budget JB 50 JB 60 Prepare the direct materials budget for the year. VAUGHN INC. Direct Materials Budget JB 50 JB 60 Total v v $ $ 69VAUGHN INC. Direct Labor Budget JB 50 JB 60 Total $ Prepare the budegeted multiple-step income statement for the year. (Note. income taxes are not allocated to the products). VAUGHN INC. Budgeted Income Statement v JB 50 JB 60 Total $ $ $