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Problem 22-02A 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 JB 60 202,500 403,300 $21 $28 26,800 33,800 16,700 12,900 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 33,300 44,800 $3 18,800 13,300 $3 0.4 0.6 $12 $12 $14 $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 JB 50 and $364,000 for product JB 60, and administrative expenses of $541,000 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% Your answer is correct. Prepare the sales budget for the year. DELEON INC. Sales Budget For the Year Ending December 31, 2020 JB 50 Total Expected Unit Sales 403300 202500 Unit Selling Price 3 Total Sales 5670000 14139300 LINK TO TEXT LINK TO VIDEO Your answer is correct. Prepare the production budget for the year. DELEON INC. Production Budget For the Year Ending December 31, 2020 JB 50 JB 60 Expected Unit Sales 403300 202500 Add Desired Ending Finished Goods Units 26800 16700 PPP- Total Required Units 430100 219200 Beginning Finished Goods Units -33800 -12900 Required Production Units 396300 206300 LINK TO TEXT LINK TO VIDEO Your answer is correct. Prepare the direct materials budget for the year. DELEON INC. Direct Materials Budget For the Year Ending December 31, 2020 B 50 Units to be produced 396300 206300 Direct Materials per Unit per Unit Total Pounds Needed for Production 396300 Add 412600 Desired Ending Direct Materials (Pounds) 33300 18800 Total Materials Required 1 429600 431400 Beginning Direct Materials (Pounds) -44800 Direct Materials Purchases - 13300 384800 1 418100 Cost per Pound Total cost of Direct Materials Purchases s 1154400 2408700 LINK TO TEXT LINK TO VIDEO Prepare the direct labor budget for the year. (Round Direct labor time per unit answers to 1 decimal place, e.g. 52.5.) DELEON INC. Direct Labor Budget For the Year Ending December 31, 2020 JB 50 JB 60 Total Units to be produced 396300 206300 Direct Labor Time (Hours) per Unit 0.60 Total Required Direct Labor Hours 123780 Direct Labor Cost per Hour Total Direct Labor Cost 1902240 1485360 3387600 LINK TO TEXT LINK TO VIDEO x Your answer is incorrect. Try again. Prepare the budegeted multiple-step income statement for the year. (Note: income taxes are not allocated to the products). DELEON INC. Budgeted Income Statement For the Quarter Ending December 31, 2020 B 50 JB 60 Total =x Click if you would like to Show Work for this question: Open Show Work

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