all one question

4. Direct labor: direct labor time is 15 mlnutes per bag at an hourly rate of $16 per hour: 5. Selling and administrative expenses are expected to be 15% of sales plus $178,000 per quarter: 6. Interestexpense is $100,000. 7. Income taxes are expected to be 20% of income before income taxes. Your assistant has prepared two budgets: (1) the manulacturing overhead budget shows expected costs to be 125% of direct labor cost, and (2) the direct materials budget for Tarr shows the cost of Tarr purchases to be $299,000 in quarter 1 and $426,500 in quarter 2. (Note Do not prepare the manufacturing owerhead budget or the direct materials budet for Tarr.) Prepare the direct materiale huidoet io CRANE FARM SUPPLY COMPANY Selling and Administrative Expense Budget $ s $ s eTextbook and Media Prepare the selling and administrative expense budget. Crane Farm Supply Company manufactures and sells apesticide calied Seare. The following data are avaliable for preparing budgets for Snare for the first 2 quarters of 2022. 1. Sales: quarter 1,28,600 bags: quarter 2,43,400 bags. Selling price is $62 per bag. 2. Direct materials: each bag of Snare requires 5 pounds of Gumm at a cost of $4 per pound and 6 pounds of Tacr at $1.50 per pound: 3. Desired inventory levels: 4. Direct labon direct labor time is 15 minutes per big at an hourly rate of 516 per hour 5. Selling and adminiatrative expenses are expected to be 15% of sales plus $178,000 per quarter