50.1K

Verified Solution

Link Copied!

Help Asap Please!

Lily Inc. is preparing its annual budgets for the year ending December 31, 2027. Accounting assistants furnish the data shown below. \begin{tabular}{|c|c|c|} \hline & \begin{tabular}{c} Product \\ JB 50 \end{tabular} & \begin{tabular}{c} Product \\ JB 60 \end{tabular} \\ \hline \multicolumn{3}{|l|}{ Sales budget: } \\ \hline Anticipated volume in units & 440,000 & 220,000 \\ \hline Unit selling price & $30 & $35 \\ \hline \multicolumn{3}{|l|}{ Production budget: } \\ \hline Desired ending finished goods units & 33,000 & 16,500 \\ \hline Beginning finished goods units & 27,500 & 11,000 \\ \hline \multicolumn{3}{|l|}{ Direct materials budget: } \\ \hline Direct materials per unit (pounds) & 2 & 3 \\ \hline Desired ending direct materials pounds & 33.000 & 11,000 \\ \hline Beginning direct materials pounds & 44.000 & 16,500 \\ \hline Cost perpound & $3 & $4 \\ \hline \end{tabular} Direct labor budget: An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $616,000 for product J850 and $396,000 for product J860, and administrative expenses of $594,000 for product 1050 and $374,000 for product J860. Interest expense is $150,000 (not allocated to products). Income taxes tre expected to be 20k Prepare the sales budget for the year

Answer & Explanation Solved by verified expert

See Answer