10 Homework after class Sered Help Save & Exit Sub Spring Manufacturing Company makes two components identified as C12 and D57. Selected budgetary data for 2019 follow Finished Components C12 D57 Requirements for each finished component : Tux 2 FM 10 pounds 2 pounds 2 hours 8 pounds 4 pounds 1 pound 3 hours 5 Direct labor Product Information: Sales price Sales (units) Estimated beginning Inventory (units) Desired ending inventory (units) 170 12,000 410 300 $ 200 9,000 110 200 Cost per pound Estimated beginning thventory in pounds Desired ending Inventory In pounds Direct Materiais Information AME PM RM3 5 2 $2.50 5 0.50 2,900 1,400 700 3,900 1,500 1,500 The firm expects the average wage rate to be $25 per hour in 2019 Spring Manufacturing uses direct labor hours to apply overhead Each year the firm determines the overhead application rate for the year based on budgeted direct labor hours for the year. The firm mointains negligible Work in Process inventory and expects the cost per unit for both beginning and ending inventories of finished products to be identical Tedirect material variable Miscellaneous Supplies and tools variable Indiect labor variable Supervision-fixed Dayroll taxes and fringe benefits variable Paintenance cost-fied Maintenance costu variable Dedreciatorid Heat, lit. and power-fixed rat, it, and power variable Total Factory Overhead Information $10.000 4,500 45,000 170,000 200,000 25,000 10,150 71,330 47, 470 10,000 Seved Help Save & Exit Submit Homework after class o Advertising Seles salles Travel and entertainment Depreciation warehouse office salaries Executive salaries Supplies Depreciation office Tota selangana Administrative Expense Information $ 63,000 168,000 63,000 5,00 61,000 260,000 4,000 5,90 $1621,900 The effective income tax rate for the company is 50% Required: 1 Prepare the Sales budget for 2019 2. Prepare the Production budget for 2019 3. Prepare the Direct materials purchases budget units and colors) for 2019 4 Prepare the Direct labor budget for 2019, 5. Prepare the factory overhead budget for 2019 6. Prepare the cost of goods sold and ending finished good Inventory budgets for 2019 7. Prepare the Selling and administrative expense budget broken down into two components Seling Expenses, and Administrative Expenses for 2019 8 Prepare the Budgeted income statement the lost item of which is labeled After tax Operating Income for 2019, Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Regarde Required 5 Required Required Tequired Prepare the sales budget for 2019, SPRING MANUFACTURING COMPANY Sale livet For Year 2019 C12 057 Delen pener There 5 0. Total os 0 Required: 1. Prepare the Sales budget for 2019 2. Prepare the production budget for 2019 3. Prepare the Direct materials purchases budget (units and dollars) for 2019. 4. Prepare the Direct labor budget for 2019, 5. Prepare the Factory overhead budget for 2019. 6 Prepare the cost of goods sold and ending finished goods inventory budgets for 2019. 7. Prepare the Selling and administrative expense budget. broken down into two components: Selling Expenses, and Administrative Expenses for 2019 8. Prepare the Budgeted income statement the lost item of which is labeled After-tax Operating Income for 2019. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required a Required 4 Required Required 6 Required 7 Required a Prepare the Production budget for 2019, SPRING MANUFACTURING COMPANY Production Budget For the Year 2019 C12 Budgeted sales in units) 057 Total units needed 0 Budgeted production in units) 0 0 Complete this question by entering your answers in the tabs below. Required 4 Required s Required 7 Required 2 Required 1 Required 3 Required 6 Required B Prepare the Direct materials purchases budget (units and dollars) for 2019. (Round "Cost per pound" to 2 decima SPRING MANUFACTURING COMPANY Diret Materials Purchases Budget units and dollar) For the Year 2013 C12 D57 Total Raw material (RM) 1 Budgeted production 0 RM 1 needed for production Total RM reeded (ib.) 0 0 Required purchases of RM 1 (bs) 3. Budgeted purchases. RM1 0 Raw material (RM) 2: Budgeted production RM 2 needed for production D Total RM 2 needed (bs) 0 Required purchases of RM 2 (lbs) 0 5 Budgeted purchases. RM 2 O Raw material (RM) 3: Budgeted production RM 3 needed for production 0 0 Total RMS needed (s) 0 Required purchases of RM 3 (lbs) 0 Budgeted purchases, RMS 5 0 Prepare the selling and administrative expense budget broken down into two components: Selling Expenses and Administrative Expenses for 2019 3. Prepare the Budgeted income statement, the last item of which is labeled After-tax Operating Income for 2019. Complete this question by entering your answers in the tabs below. Required Required 2 Required 3 Required 4 Required Required 6 Required 7 Required Prepare the Direct labor budget for 2019 SERING MANUFACTURING COMPANY Direct Labor Budget For the Year 2018 C 12 057 Total Bugated production Totalrerlabor hours needed 0 o 0 Badget direct labor cost 0 Kiray 8. Prepare the Budgeted Income statement, the last item of which is labeled After-tax Operating Incom Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Requided 5 Required 6 Required Rea Prepare the Factory overhead budget for 2019, SPRING MANUFACTURING COMPANY Factory Overhead Budget For the Year 2019 Variable factory overhead 5 0 Fored factory overhead: Total cash fred factory overhead $ 0 Total budgeted factory overhead 5 0 Expenses for 2019 8. Prepare the Budgeted income statement the last item of which is labeled After-tax Operating Income for 2019 Complete this question by entering your answers in the tabs below. Required Required 2 Required 3 Required 4 Required Required 5 Required 2 Required 8 Prepare the cost of goods sold and ending Finished goods inventory budgets for 2019. Round your intermediate calculations NO2 decimal places. SPRING MANUFACTURING COMPANY Ending Finished Goods Inventory and Budgeted CGS For the Year 2015 012 057 Total 21,000 Sales volume 0 $ Cost of goods sold 3 0 Ending finished goods Inventory S Budgeted ending inventories 0 S OS 0 Expenses for 2019 8. Prepare the Budgeted Income statement, the last item of which is labeled After-tax Operating income for 2019 Complete this question by entering your answers in the tabs below! Required Required a Required Required Required Required 6 Required 7 Required Prepare the Selling and administrative expense budget, broken down into two components: Selling Expenses, and Administrative Expenses for 2019 SPRING MANUFACTURING COMPANY Selling and Administrative Expense Budget For the Year 2019 Selling expenses DS 3 0 Administrave expenses 0 3 5 Total selling and administrative expenses