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Problem 22-02A - (Video) Cullumber Inc. is preparing its annual budgets for the year ending December 31, 2020. Accounting assistants furnish the data shown below. Product Product JB 50 JB 60 Sales budget: Anticipated volume in units 403,200 204,100 Unit selling price $23 $27 Production budget: Desired ending finished goods units 29,300 17,800 Beginning finished goods units 34,400 '11,900 Direct materials budget: Direct materials per unit (pounds) 3 Desired ending direct materials pounds 32,300 17,300 Beginning direct materials pounds 41,300 14,300 Cost per pound $3 $3 Direct labor budget Direct labor time per unit 0.3 0.6 Direct labor rate per hour $12 $12 Budgeted Income statement: Total unit cost $12 $21 An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $665,000 for product 16 50 and $361,000 for product 18 60, and administrative expenses of $541,000 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. CULLUMBER INC. Sales Budget JB 50 JB 60 Total $ LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR PROBLEM Prepare the production budget for the year. CULLUMBER INC. Production Budget JB 50 JB 60 . Prepare the direct materials budget for the year. CULLUMBER INC. Direct Materials Budget JB 50 JB 60 Total ! LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR PROBLEM Prepare the direct labor budget for the year. (Round Direct labor time per unit answers to 1 decimal place, e.g. 52.5.) CULLUMBER INC. Direct Labor Budget JB 50 JB 60 Total $ LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR PROBLEM Prepare the budegeted multiple-step income statement for the year. (Note: income taxes are not allocated to the products). CULLUMBER INC. Budgeted Income Statement JB 50 JB 60 Total $ $ - - Click if you would like to Show Work for this question: Open Show Work