Deleon Inc. is preparing its annual budgets for the year ending December 31, 2020. Accounting assistants furnish the data shown below. d administrative expense budget. The latter shows selling...

Deleon Inc. is preparing its annual budgets for the year ending December 31, 2020.

Accounting assistants furnish the data shown below.

d administrative expense budget. The latter shows selling expenses of $560,000 for product JB 50 and $360,000 for product JB 60, and administrative expenses of $540,000 for product JB 50 and $340,000 for product JB 60. Interest expense is $150,000 (not allocated to products). Income taxes are expected to be 30%.

Instructions

Prepare the following budgets for the year. Show data for each product. Quarterly budgets should not be prepared.

a. Sales. d. Direct labor.

b. Production. e. Multiple-step income statement (Note: income taxes are not allocated

c. Direct materials. to the products).