2A Deleon Inc. is preparing its annual budgets for t Accounting assistants furnish the data c. is preparing its annual budgets for the year ending December 3 1, 2014. Prepo direc abo shown below. Product JB 50 Product JB 60 budg Sales budget: Anticipated volume in units Unit selling price Production budget: 400,000 $20 200,000 $25 rit Desired ending finished goods units Beginning finished goods units Direct materials budget: 30,000 25,000 15,000 10,000 Direct materials per unit (pounds) Desired ending direct materials pounds 30,000 40,000 $3 10,000 15,000 $4 Beginning direct materials pounds Cost per pound Direct labor budget: Direct labor time per unit 0.4 $12 0.6 $12 Direct labor rate per hour 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 $560,000 for product JB 50 and $360,000 for product JB 60, and administrative expenses of $540,000 for product JB 50 and $340,000 for product JB 60. Income taxes are expected to be 30%. Instructions Pregire the fallowving hbudgets for the year Show data for each prodtuct. Quarterly budgets should not be prepared. (a) Sales (b) Production (c) Direct materials (d Direct labor (e) Income statement (Note: Income taxes are not allocated to the products.)