Ivanhoe Inc. is preparing its annual budgets for the year ending December 31, 2022. Accounting assistants furnish the fo

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Ivanhoe Inc. is preparing its annual budgets for the year endingDecember 31, 2022. Accounting assistants furnish the following.Product JB 50 Product JB 60 Sales budget: Anticipated volume inunits 344,000 172,000 Unit selling price $20 $25 Production budget:Desired ending finished goods units 25,800 12,900 Beginningfinished goods units 21,500 8,600 Direct materials budget: Directmaterials per unit (pounds) 2 3 Desired ending direct materialspounds 25,800 8,600 Beginning direct materials pounds 34,400 12,900Cost per pound $3 $4 Direct labor budget: Direct labor time perunit 0.40 0.60 Direct labor rate per hour $12 $12 Budgeted incomestatement: Total unit cost $13 $20 An accounting assistant hasprepared the detailed manufacturing overhead budget and the sellingand administrative expense budget. The latter shows sellingexpenses of $481,600 for product JB 50 and $309,600 for product JB60, and administrative expenses of $464,400 for product JB 50 and$292,400 for product JB 60. Interest expense is $150,000 (notallocated to products). Income taxes are expected to be 20%.