C12 Spring Manufacturing Company makes to components identied as C12 and 057. Selected budgetary data for 2019 tollow Feed Compet 057 Rocurements for each finished component RM 1 10 pounds 8 pounds RM 2 0 4 pounds RM3 2 pounds 1 pound Direct labor 2 hours Product information Sales price 100 Sales (es) 12 000 Estimated beginning inventory (units) Desired ending inventory units) 300 $ 9.000 190 200 Cost per pound Estimated beginning invertory in pourds Desired ending invertory in pounds Direct Materials formation RMI M2 RE $ 2 $ 150 $0.SO 2.900 2.000 700 2.800 1 100 1.900 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 fim determines the overhead application rate for the year based on budgeted direct labor hours for the year. The firm maintains negligible Workin. Process Inventory and expects the cost per unit for both beginning and ending inventories of finished products to be identical Indirect materials-variable Miscellaneous supplies and tools-variable Indirect labore variable Supervision-red Payroll taxes and fringe bend its variable Maintenance costs-ored Maintenance costs-variable Depreciation-ored Heat, light and powered Heat tght, and power--varable Total Factory Overhead Information $ 20,000 5100 2.000 160.000 220.000 17.000 30 000 71 310 23.450 9.000 5 587900 Advertising Sales salaries Travel and entertainment Depreciation Warehouse Office salaries Executive salanes Supplies Depreciation office Total Seling and Administrative Experise information 57.000 220,000 63.000 4.800 61.000 200.000 3.700 6.000 The effective income tax rate for the company is 30% Required: 1. Prepare the sales budget for 2010 2. Prepare the production budget for 2010 3. Prepare the Direct materials purchases budget (units and dollars) for 2010. 4. Prepare the Direct labor budget for 2019. 5. Prepare the Factory overhead budget for 2010 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 last item of which is labeled Ater-tax Operating income for 2019