Buzzing Company provided the following information to prepare budgets for January, February, and March 2023. Forecasted sales in units are: January, 83,000; February, 96,000; March, 105,000; April, 99,000. The selling price is $199 per unit. Ending finished goods inventory must equal 10% of the next months expected unit sales. The December 2022 ending finished goods inventory is 8,300 units. Ending direct materials inventory must equal 30% of the next months direct materials requirements. The December 2022 ending direct materials inventory was 10,000 pounds. The budgeted ending direct materials inventory for March 2023 is 16,000 pounds. Each unit of finished goods inventory requires (0.5) pound of direct materials. Direct materials cost is $19 per pound. Each unit of finished goods inventory requires 45 minutes (3/4 hour) of direct labor at a rate of $36 per hour. Factory overhead is allocated based on direct labor hours. The predetermined variable overhead rate is $4.50 per direct labor hour. Depreciation is $50,000 per month and is considered fixed factory overhead. Sales commissions are $6 per unit sold and are paid in the month of sale. The sales managers salary is $22,000 each month. Monthly general and administrative expenses include $18,000 of administrative salaries. It also includes $200 of interest expense on a long-term note.

Prepare the following budgets for Buzzing Company:

1) Sales budget

2) Production budget

3) Direct materials budget

4) Direct labor budget

5) Manufacturing overhead budget

6) Selling and administrative expense budget