question c)

direct material budget

question d)

direct labor budget

question e)

budgeted income statement

Novak Inc. is preparing its annual budgets for the year ending December 31, 2017. Accounting assistants furnish the data shown below. Product JB 50 Product JB 60 402,800 $23 203,900 $28 27,800 34,900 19,000 13,600 Sales budget: Anticipated volume in units Unit selling price Production budget: Desired ending finished goods units Beginning finished goods units Direct materials budget: Direct materials per unit (pounds) Desired ending direct materials pounds Beginning direct materials pounds Cost per pound Direct labor budget: Direct labor time per unit Direct labor rate per hour Budgeted income statement: Total unit cost 32,100 43,000 $3 3 18,500 14,600 0.6 0.4 $12 $14 $21 An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $661,000 for product JB 50 and $365,000 for product JB 60, and administrative CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT $12 Direct labor rate per hour Budgeted income statement: Total unit cost $14 $21 An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $661,000 for product JB 50 and $365,000 for product JB 60, and administrative expenses of $543,000 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%. (a) Your answer is correct. Prepare the sales budget for the year, NOVAK INC. Sales Budget For the Year Ending December 31, 2017 JB 50 JB 60 Total Expected unit sales 402800 203900 Unit selling price Total sales 9264400 5709200 14973600 (b) Prepare the production budget for the year. NOVAK INC. Production Budget JB 50 JB 60 LINK TO TEXT LINK TO TEXT Attempts: 0 of 10 used