Question

Problem 21-2A (Part Level Submission) Deleon Inc. is preparing its annual budgets for the year ending December 31, 2017. Accounting assistants furnish the data shown below. Product JB 50 Product JB 60 404,400 $23 202,600 $28 27,300 34,700 19,000 13,000 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 34,200 44,400 2 19,400 12,000 $3

Answer 1

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DELEON INC Budgeted Income statement for the year ending December, 2017 Sales I JB 50 | Je to Total $9.301.000 15679800 $14974000 cost of Goods sold $5661600 $4457200 roll & Eco $363960041215600|448553 Gross feesti't | Operating Expenses Selling Expense $663,000 $361,000 $1024070 Administratine Expenses ($544,000 / $343,000 $887,000 Total Operating Expenses $1207000 $704,000 $1911000 Income from operations 1484326009511,600 $2944900 Interest Expense $150,000 Income before income taxes $4794200 Income Tax Expense @ 30% 4838260 I Net Income (loss) $1955940