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) Destred 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 50 403,200 $23 29,300 34,400 $3 0.3 $12 Product JB 60 $12 204.100 32.300 17,300 41,300 14,300 $3 $27 17,800 11,900 06 $12 $21 An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $665,000 for product JB 50 and $361.000 for product JB 60, and administrative expenses of $541,000 for product JB 50 and $344,000 for product JB 60 Interest expense is $150.000 (not allocated to products). Income takes 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) Destred 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 50 403,200 $23 29,300 34,400 $3 0.3 $12 Product JB 60 $12 204.100 32.300 17,300 41,300 14,300 $3 $27 17,800 11,900 06 $12 $21 An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $665,000 for product JB 50 and $361.000 for product JB 60, and administrative expenses of $541,000 for product JB 50 and $344,000 for product JB 60 Interest expense is $150.000 (not allocated to products). Income takes are expected to be 30%
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Concept explainers
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
Question
Please do not give solution in image format thanku
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
Budgeted income statement:
Total unit cost
Product
JB 50
403,200
$23
29,300
34,400
2
32,300
41,300
$3
0.3
$12
$12
Product
JB 60
204, 100
$27
17,800
11,900
17,300
14,300
$3
0.6
$12
$21
4
An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget.
The latter shows selling expenses of $665,000 for product JB 50 and $361.000 for product JB 60, and administrative expenses of
$541,000 for product JB 50 and $344,000 for product JB 60 Interest expense is $150,000 (not allocated to products). Income taxes
are expected to be 30%
Transcribed Image Text:(b)
Prepare the production budget for the year.
eTextbook and Media
Save for Later
DELEON INC.
Production Budget
JB 50
JB 60
Attempts: 0 of 2 used
Submit Answer
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education