Practice Problem Set 1 (Part Level Submission) Deleon Inc. Is preparing its annual budgets for the year ending December 31, 2017. Accounting assistants furnish the data shown below. Product Product B 50 B 60 Sales budget: Anticipated volume in units Unit selling price 401,600 203,100 $27 $21 Production budget: Desired ending finished goods units Beginning finished goods units 27,100 17,000 31,100 13,300 Direct materials budget Direct materials per unit (pounds) Desired ending direct materials pounds Beginning direct materials pounds Cost per pound 33,300 41,800 $3 17,600 12,000 $3 Direct labor budget: 0.4 $11 0.6 Direct labor time per unt Direct labor rate per hour Budgeted income statement: $21 $13 Total unit cost An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows seling expenses of $662,000 for 50 and $365,000 for product 38 60, and administrative expenses of $544,000 for product 38 50 and $345,000 for product 3B 60. interest expense is s150,000 (not allocated to products) Income to be 30%. SHEFFIELD INC. Direct Materials Budget Total JB 60 B 50 Click if you would like to Show Work for this question: Open Show Work