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 Sales budget: Anticipated volume in units 402,300 $23 201,600 $28 Unit selling price Production budget: Desired ending finished goods units 27,300 31,300 19,500 11,800 Beginning finished goods units Direct materials budget: Direct materials per unit (pounds) Desired ending direct materials pounds 19,500 32,700 41,500 Beginning direct materials pounds 12,400 Cost per pound Direct labor budget: Direct labor time per unit 0.4 $11 0.6 $11 Direct labor rate per hour Budgeted income statement: Total unit cost An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $662,000 for product JB 50 and $364,000 for product JB 60, and administrative expenses of $544,000 for product JB 50 and $342,000 for product JB 60. Interest expense is $150,000 (not allocated to products). Income taxes are expected to be 30%. An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $662,000 for product JB 50 and $364,000 for product JB 60, and administrative expenses of $544,000 for product JB 50 and $342,000 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. DELEON INC. Sales Budget JB 50 JB 60 Total Prepare the production budget for the year. DELEON INC. Production Budget JB 50 JB 60 Prepare the direct materials budget for the year. DELEON INC. Direct Materials Budget JB 50 B 60 Total 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 JB 50 JB 60 Total 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 Year Ending December 31, 2020 JB 50 JB 60 Total Sales 9252900 5644800 14897700 Cost of Goods Sold 5632200 4233600 9865800 Gross Profit 3620700 1411200 5031900 Operating Expenses Selling Expenses 662000 364000 1026000 Administrative Expenses 544000 342000 886000 Total Operating Expenses 1206000 706000 1912000 Income from Operations $ 2414700 705200 3119900 Interest Expense 150000 Income before Income Taxes 2969900 Income Tax Expense 890970 Net Income /(Loss) 2078930