Deleon 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 402,300 203,700 Unit selling price $23 $27 Production budget: Desired ending finished goods units 28,100 18,100 Beginning finished goods units 34,100 12,500 Direct materials budget: Direct materials per unit (pounds) 1 3 Desired ending direct materials pounds 34,000 18,500 Beginning direct materials pounds 44,600 13,400 Cost per pound $3 $3 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 $14 $22 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 $361,000 for product JB 60, and administrative expenses of $545,000 for product JB 50 and $344,000 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. Prepare the production budget for the year. Prepare the direct materials budget for the year. Prepare the direct labor budget for the year. Prepare the budegeted multiple-step income statement for the year

Explanation:

Sales budget

DELEON INC.

For the Year Ending December 31, 2017

                                          JB 50      JB 60      Total

Expected Unit Sales402,300203,700  

Unit Selling Price           $23$27  

Total Sales            $9,252,900$5,499,900 $14,752,800

Production budget

For the Year Ending December 31, 2017

                                                                             JB 50JB 60

Expected Unit Sales                                      402,300203,700

Add: Desired Ending Finished Goods Units28,10018,100

Total Required Units                                      430,400221,800

Less: Beginning Finished Goods Units      (34,100)(12,500)

Required Production Units                              396,300209,300

Direct Materials Budget

For the Year Ending December 31, 2017

                                                                 JB 50JB 50Total

Units to be Produced                      396,300209,300  

Direct Materials Per Unit                    1               3  

Total Pounds Needed for Production396,300627,900  

Add: Desired Ending Direct Materials34,00018,500  

Total Materials Required                 430,300646,400  

Less: Beginning Direct Materials        (44,600)(13,400)  

Direct Materials Purchases                385,700633,000  

Cost Per Pound                                      $3   $3  

Total Cost of Direct Materials Purchases $1,157,100  $1,899,000  $3,056,100

Direct Labor Budget

For the Year Ending December 31, 2017

                                                          JB 50JB 60Total

Units to be produced               396,300209,300  

Direct labor time (hours) per unit0.4            0.6  

Total required direct labor hours158,520125,580  

Direct labor cost per hour            $12$12  

Total direct labor cost           $1,902,240$1,506,960$3,409,200

Budgeted Income Statement  

For the Year Ending December 31, 2017

                                                       JB 50JB 60        Total

Sales                                $9,252,900$5,499,900$14,752,800

Cost of Goods Sold         $5,632,200$4,481,400$10,113,600

Gross Profit                         $3,620,700$1,018,500$4,639,200

Operating Expenses:    

Selling Expenses            $661,000$361,000$1,022,000

Administrative Expenses$545,000$344,000$889,000

Total Operating Expenses$1,206,000$705,000$1,911,000

Income Before Income Taxes $2,414,700$313,500$2,728,200

Income Tax Expense (30%)$724,410  $94,050  $818,460

Net Income                         $1,690,290$219,450$1,909,740

income statement is prepared in order to show the profits and loss of a business. in order to prepare the income statement she should collect all the income and expenses of the product with the cost of production.

the correct answer is - no.

winnipeg, canada, is not further away from the equator than moscow, russia, in fact moscow is the city that is further away from the equator. moscow is on a latitude of 55.7558° north, while winnipeg is on a latitude of 49.8951° north, thus putting moscow by 5.8607° further away from the equator than winnipeg is.