Please do not give solution in image format thanku Deleon Inc. is preparing its annual budgets for the year ending December 31, 2020, Accounting assistants furnish the data shownbelow.Sales budgetAnticipated volume in unitsUnit selling priceProduction budget.Desired ending finished goods unitsBeginning finished goods unitsDirect materials budget:Direct materials per unit (pounds)Desired ending direct materials poundsBeginning direct materials poundsCost per poundDirect labor budget:Direct labor time per unit.Direct labor rate per hourBudgebed income statement: -Total unit costProductJB 50402,300$2327,30031,300232,70041.500$304$11$14ProductJB 60201,600$2819.50011,800219,50012.400$30.6$11$21An accounting assistant has prepared the detailed manufacturing over head budget and the selling and administrative expense budgetThe 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 taxesare expected to be 30% Prepare the direct materials budget for the year.Units to be ProducedtionDirect Materials per UnitTotal Pounds Needed for ProductionAddTotal Materials RequiredLessDirect Materials PurchasesCost per PoundDesired Ending Direct Materials (Pounds)Total Cost of Direct Materials Purchasesirchasesirect Materials (Pounds)VMaterials (Pounds)Beginning Direct Materials (Pounds)Prepare the direct materials budget for the year.2M3$$7DELEON INC.Direct Materials BudgetFor the Year Ending December 31, 2020DELEON INC.Direct Materials BudgetFor the Year Ending December 31, 2020JB 50$$$$JB 50JB 60$S$JB 60Total

Direct material purchase budget is the statement which is prepared by the entity for the purpose of…

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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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