View Policies Current Attempt in Progress Crane Inc. is preparing its annual budgets for the year ending December 31, 2022. Accounting assistants furnish the following. Product JB 50 Product JB 60 328,000 164,000 $20 $25 24,600 12,300 20,500 8,200 2 3 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 24,600 8,200 32.800 12,300 $3 $4 0.40 0.60 $12 $12 $13 $20 An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $459,200 for product JB 50 and $295,200 for product JB 60, and administrative expenses of $442.800 for product JB 50 and $278.800 for product JB 60. Interest expense is $150,000 (not allocated to products). Income taxes are expected to be 20%. (a) Prepare the sales budget for the year. CRANE INC. Sales Budget JB 50 JB 60 Total $ $ $ $ $ $ LA e Textbook and Media Save for Later Attempts: 0 of 5 used Submit Answer (b) Prepare the production budget for the year. CRANE INC. Production Budget JB 50 JB 60 e Textbook and Media Save for Later Attempts: 0 of 5 used Submit Answer (c) Prepare the direct materials budget for the year. CRANE INC. Direct Materials Budget JB 50 JB 60 > | V v :