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Category > Accounting Posted 17 Aug 2017 My Price 11.00

Deleon Inc

P9-2A Deleon Inc. is preparing its annual budgets for the year ending December 31, 2014. Accounting assistants furnish the data shown below.

 

Product JB 50               Product JB 60

                              

Sales budget:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Anticipated volume in units

400,000

200,000

Unit selling price

$20

$25

Production budget:

 

 

Desired ending finished goods units

30,000

15,000

Beginning finished goods units

25,000

10,000

Direct materials budget:

 

 

Direct materials per unit (pounds)

2

3

Desired ending direct materials pounds

30,000

10,000

Beginning direct materials pounds

40,000

15,000

Cost per pound

$3

$4

Direct labor budget:

 

 

Direct labor time per unit

0.4

0.6

Direct labor rate per hour

$12

$12

Budgeted income statement:

 

 

Total unit cost

$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

$560,000 for product JB 50 and $360,000 for product JB 60, and administrative expenses of $540,000 for product JB 50 and $340,000 for product JB 60. Income taxes are expected to be 30%.

Instructions

Prepare the following budgets for the year. Show data for each product. Quarterly budgets should not be prepared.

(a)  Sales                                     (d Direct labor

(b)  Production                          (e) Income statement (Note: Income taxes are

(c)   Direct materials                       not allocated to the products.)

Answers

Maurice Tutor
(5)
Status NEW Posted 17 Aug 2017 06:08 PM My Price 11.00

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