An accounting assistant has prepared the detailed manufacturing overhead budget

An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $660000 for product JB 50 and $360000 for product JB 60 and administrative expenses of $540000 for product JB 50 and $340000 for product JB 60. Income taxes are expected to be 30%.InstructionsPrepare the following budgets for the year. Show data for each product. You do not need to prepare quarterly budgets.(a) Sales (b) Production (c) Direct materials not allocated to the products.)(d) Direct labor(e) Income statement