(b) Your answer is correct. Prepare the direct materials budget. (Round Cost per pound answers to 2 decimai places, e.g. 52.70.) COOK FARM SUPPLY COMPANY Direct Materials Budget-Gumm For the Six Months Ending June 30, 2017 uarter Six Months Units to be Produced 33000 48700 Direct Materials per Unit Total Pounds Needed for Production 132000 194800 Add Desired Ending Direct Materials 10400 13100 142400 Total Materials Required 207900 Less Beginning Direct Materials 9300 10400 Direct Materials Purchases 133100 197500 Cost per Pound 3.8 3.8 Total Cost of Direct Materials Purchases 505780 1256280 750500 Prepare the direct labor budget. (Enter Direct labor time per unit in proportion to hours, e.g. for 45 minutes the proportion will be 0.75.) COOK FARM SUPPLY COMPANY Direct Labor Budget For the Six Months Ending June 30, 2017 uarter Six Months Units to be Produced 33000 48700 25 25 Direct Labor Time per Unit Total Required Direct Labor Hours Direct Labor Cost per Hour 8250 12175 14 170450$ 115500 285950 Total Direct Labor Cost Prepare the selling and administrative expense budget. COOK FARM SUPPLY COMPANY Selling and Administrative Expense Budget For the Six Months Ending June 30, 2017 arter Six Months 29300 42400 71700 Budgeted sales in units 400680$ 276885 677565 Variable Cost 176000 Flxed Cost 176000 352000