Prepare the budegeted multiple-step income statement for the year. (Note: income taxes are not allocated to the products).

Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter8: Budgeting
Section: Chapter Questions
Problem 3PB: Budgeted income statement and supporting budgets The budget director of Gold Medal Athletic Co.,...
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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
$
404,800
$22
29,200
33,700
1
33,600
41,000
$3
0.3
$11
$12
Product
JB 60
203,400
$27
JB 50
18.100
11,400
3
18,600
11,300
$3
Prepare the budegeted multiple-step income statement for the year. (Note: income taxes are not allocated to the products).
0.6
$11
$21
DELEON INC.
Budgeted Income Statement
$
$
JB 60
$
$
Total
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 $ 404,800 $22 29,200 33,700 1 33,600 41,000 $3 0.3 $11 $12 Product JB 60 203,400 $27 JB 50 18.100 11,400 3 18,600 11,300 $3 Prepare the budegeted multiple-step income statement for the year. (Note: income taxes are not allocated to the products). 0.6 $11 $21 DELEON INC. Budgeted Income Statement $ $ JB 60 $ $ Total
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