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Sheffield Farm Supply Company manufactures and sells a fertilizer called Snare. The following data we want to prove the for Snare for the first two quarters of 2022. 1 Sales: Quarter 1. 30.000 bars quarter 2.44.000 bap Selling price is $5 per bag 2. Direct materials: Each bag of Snare requires tag of Gummat 54.00 per kilogram and one of t51.50 per kilogram. 3 Desired inventory levels Type af inventory Share bags January 1 April 1 7,000 13,000 10,000 9.000 July 1 17.000 Gumm 12.000 Tarr kg 15.000 21.000 26.000 4. Direct labour: Direct labour time is 15 minutes per bag at an hourly rate of $12.00 per hour 5. The company expects selling and administrative expenses to be 15% of sales plus 5177.000 per quarter It expects income taxes to be 30% of income from operations 6 Gumm (kg) 10.000 9.000 12.000 Tarr (kg) 15,000 21.000 26,000 4. Direct labour: Direct labour time is 15 minutes per bag at an hourly rate of $12.00 per hour 5. The company expects selling and administrative expenses to be 15% of sales plus $177.000 per quarter. 6. It expects income taxes to be 30% of income from operations. Your assistant has prepared two budgets: (1) The manufacturing overhead budget shows expected costs to be 150% af direct labour cost. (2) The direct materials budget for Tarr shows the cost of Tarr purchases to be $296.000 in quarter 1 and $435,000 in quarter 2 Prepare the following operating budgets by quarters. (Note: Classify items as variable and fixed in the selling and administrative expenses budget.) Do not prepare the manufacturing overhead budget or the direct materials budget for Tare Prepare the sales budget by quarters SHEFFIELD FARM SUPPLY COMPANY 1 1 1 Prepare the sales budget by quarters. SHEFFIELD FARM SUPPLY COMPANY Sales Budget For the Six Months Ending June 30, 2022 Quarter 1 2 SEX Months Expected sales in units Unit selling price $ 3 Total sales