The latter shows selling expenses of $661,000 for product JB 50 and $363,000 for product JB 60, and administrative expenses of $545,000 for product JB 50 and $343,000 for product JB 60. Interest expense is $150,000 (not allocated to products). Income taxes are expected to be 30%. Product JB 50 Product JB 60

Sales budget:
Anticipated volume in units 403,200 205,000
Unit selling price $22 $27
Production budget:
Desired ending finished goods units 26,300 16,000
Beginning finished goods units 31,200 13,300
Direct materials budget:
Direct materials per unit (pounds) 2 2
Desired ending direct materials pounds 33,300 17,900
Beginning direct materials pounds 43,500 13,100
Cost per pound $2 $3
Direct labor budget:
Direct labor time per unit 0.4 0.6
Direct labor rate per hour $12 $12
Budgeted income statement:
Total unit cost $12 $22

Required:
Prepare the budegeted multiple-step income statement for the year.