Pharoah Inc. is preparing its annual budgets for the year ending December 31, 2022. Accounting assistants...

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Pharoah Inc. is preparing its annual budgets for the year ending December 31, 2022. Accounting assistants furnish the following Product JB 50 Product JB 60 Sales budget: Anticipated volume in units 448,000 224,000 Unit selling price $20 $25 Production budget: Desired ending finished goods units 33,600 16.800 Beginning finished goods units i 28.000 11.200 Direct materials budget Direct materials per unit (pounds) 2 3 Desired ending direct materials pounds 33.600 11.200 Beginning direct materials pounds 44,800 16.800 Cost per pound $3 $4 Direct labor budget Direct labor time per unit 0.40 0.60 Direct labor rate per hour i $12 $12 Budgeted income statement Total unit cost 513 $20 An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget The latter shows selling expenses of $627,200 for product JB 50 and $403.200 for product JB 60, and administrative expenses of $604,800 for product JB 50 and $380,800 for product JB 60. Interest expense is $150,000 (not allocated to products). Income taxes are expected to be 20% Prepare the direct materials budget for the year. PHAROAH INC. Direct Materials Budget JB 50 JB 60 Pharoah Inc. is preparing its annual budgets for the year ending December 31, 2022. Accounting assistants furnish the following Product JB 50 Product JB 60 Sales budget: Anticipated volume in units 448,000 224,000 Unit selling price $20 $25 Production budget: Desired ending finished goods units 33,600 16.800 Beginning finished goods units i 28.000 11.200 Direct materials budget Direct materials per unit (pounds) 2 3 Desired ending direct materials pounds 33.600 11.200 Beginning direct materials pounds 44,800 16.800 Cost per pound $3 $4 Direct labor budget Direct labor time per unit 0.40 0.60 Direct labor rate per hour i $12 $12 Budgeted income statement Total unit cost 513 $20 An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget The latter shows selling expenses of $627,200 for product JB 50 and $403.200 for product JB 60, and administrative expenses of $604,800 for product JB 50 and $380,800 for product JB 60. Interest expense is $150,000 (not allocated to products). Income taxes are expected to be 20% Prepare the direct materials budget for the year. PHAROAH INC. Direct Materials Budget JB 50 JB 60