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Vaughn Inc

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Vaughn Inc. is preparing its annual budgets for the year ending December 31, 2022. Accounting assistants furnish the data shown below. Product JB 50 Product JB 60 Sales budget: Anticipated volume in units 392,000 196,000 Unit selling price $30 $35 Production budget: Desired ending finished goods units 29,400 14,700 Beginning finished goods units 24,500 9,800 Direct materials budget: Direct materials per unit (pounds) 2 3 Desired ending direct materials pounds 29,400 9,800 Beginning direct materials pounds 39,200 14.700 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 $548,800 for product JB 50 and $352,800 for product JB 60, and administrative expenses of $529,200 for product JB 50 and $333,200 for product JB 60. Interest expense is $150,000 (not allocated to products). Income taxes are expected to be 20%. Prepare the production budget for the year. DELEON INC. Production Budget For the Year Ending December 31, 2017 JB 50 JB 60 Prepare the direct materials budget for the year. DELEON INC. Direct Materials Budget For the Year Ending December 31, 2017 JB 50 JB 60 . $ $ $ e Textbook and Media Direct Labor Budget For the Year Ending December 31, 2017 JB 50 JB 60 Total $ $ e Textbook and Media Prepare the budgeted multiple-step income statement for the year. (Note: income taxes are not allocated to the products) DELEON INC. Budgeted Income Statement For the Year Ending December 31, 2017 JB 50 JB 60 Total $ $