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Deleon Inc. is preparing its annual budgets for the year ending December 31, 2020. Accounting assistants furnish the data shown below. 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 Product JB 50 402,300 $23 27,300 31,300 2 32,700 41.500 $3 04 $11 $14 Product JB 60 201,600 $28 19.500 11,800 2 19,500 12.400 $3 0.6 $11 $21 ense budget des of An accounting assistant has prepared the detailed manufacturing over head budget and the selling and administrative The latter shows selling expenses of $662,000 for product JB 50 and $364,000 for productJB 00, and admirest $544,000 for product JB 50 and $342,000 for product J8 60. Interest expense $150.000 tot allocated to products, income taxes are expected to be 30%

Deleon Inc. is preparing its annual budgets for the year ending December 31, 2020. Accounting assistants furnish the data shown below. 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 Product JB 50 402,300 $23 27,300 31,300 2 32,700 41.500 $3 04 $11 $14 Product JB 60 201,600 $28 19.500 11,800 2 19,500 12.400 $3 0.6 $11 $21 ense budget des of An accounting assistant has prepared the detailed manufacturing over head budget and the selling and administrative The latter shows selling expenses of $662,000 for product JB 50 and $364,000 for productJB 00, and admirest $544,000 for product JB 50 and $342,000 for product J8 60. Interest expense $150.000 tot allocated to products, income taxes are expected to be 30%

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Deleon Inc. is preparing its annual budgets for the year ending December 31, 2020, Accounting assistants furnish the data shown below. 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 Budgebed income statement: - Total unit cost Product JB 50 402,300 $23 27,300 31,300 2 32,700 41.500 $3 04 $11 $14 Product JB 60 201,600 $28 19.500 11,800 2 19,500 12.400 $3 0.6 $11 $21 An accounting assistant has prepared the detailed manufacturing over head budget and the selling and administrative expense budget The latter shows selling expenses of $662,000 for product JB 50 and $364,000 for product JB 00, and administrative expenses of $544,000 for product JB 50 and $342,000 for product JB 60. Interest expenses $150.000 (not allocated to products), Income taxes are expected to be 30%
Transcribed Image Text:Deleon Inc. is preparing its annual budgets for the year ending December 31, 2020, Accounting assistants furnish the data shown below. 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 Budgebed income statement: - Total unit cost Product JB 50 402,300 $23 27,300 31,300 2 32,700 41.500 $3 04 $11 $14 Product JB 60 201,600 $28 19.500 11,800 2 19,500 12.400 $3 0.6 $11 $21 An accounting assistant has prepared the detailed manufacturing over head budget and the selling and administrative expense budget The latter shows selling expenses of $662,000 for product JB 50 and $364,000 for product JB 00, and administrative expenses of $544,000 for product JB 50 and $342,000 for product JB 60. Interest expenses $150.000 (not allocated to products), Income taxes are expected to be 30%
Prepare the direct materials budget for the year. Units to be Produced tion Direct Materials per Unit Total Pounds Needed for Production Add Total Materials Required Less Direct Materials Purchases Cost per Pound Desired Ending Direct Materials (Pounds) Total Cost of Direct Materials Purchases irchases irect Materials (Pounds) V Materials (Pounds) Beginning Direct Materials (Pounds) Prepare the direct materials budget for the year. 2 M 3 $ $ 7 DELEON INC. Direct Materials Budget For the Year Ending December 31, 2020 DELEON INC. Direct Materials Budget For the Year Ending December 31, 2020 JB 50 $ $ $ $ JB 50 JB 60 $ S $ JB 60 Total
Transcribed Image Text:Prepare the direct materials budget for the year. Units to be Produced tion Direct Materials per Unit Total Pounds Needed for Production Add Total Materials Required Less Direct Materials Purchases Cost per Pound Desired Ending Direct Materials (Pounds) Total Cost of Direct Materials Purchases irchases irect Materials (Pounds) V Materials (Pounds) Beginning Direct Materials (Pounds) Prepare the direct materials budget for the year. 2 M 3 $ $ 7 DELEON INC. Direct Materials Budget For the Year Ending December 31, 2020 DELEON INC. Direct Materials Budget For the Year Ending December 31, 2020 JB 50 $ $ $ $ JB 50 JB 60 $ S $ JB 60 Total
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