Can someone help me fill in the blanks of the first photo? I have also attached the photos of the previous budgets as stated in the question in the first photo.

D MASTER BUDGET PROJECT: BUDGETED INCOME STATEMENT BY QUARTER 2 ACCT 5362 Accounting Principles Using the previous budgets developed, prepare a Budgeted Income Statement by Quarter for 2021 using the following template: 7 Husky Co. Budgeted Income Statement by Quarter For the Year Ended Dec 31, 2021 01 02 03 04 Annual Sales 12 Cost of Goods Sold Gross Prati SG&A Expenses 15 Operating Profit Interest Expense 11 Taxable income 1 Income Tax Net Income 323,655 3 4 Husky Co. Trial Balance Oct. 1 2020 5 6 Debit Credit 2 200,000 6 9 10 2,400,000 200,000 11 12 13 14 15 16 17 10 19 20 21 22 ASSETS: Cash Savings Account Accounts Receivable Inventory Fixed Assets - Mfg. Fixed Assets - SG&A Accum Depreciation - Mig Accur Depreciation - SG&A LIABILITIES: Accounts Payable Loans Payable Income Tax Payable (Benefit) OWNERS' EQUITY: Capital Stock Additional Paid in Capital Retained Eamings REVENUES: Sitles 300,000 2,500,000 24 15 23 24 25 26 22 Retained Earnings REVENUES: Sales EXPENSES: Cost of Goods Sold Selling, General & Administrative Interest Expense Income Tax Expense Totals 2,800,000 2,800,000 ARRABASS During the 4th Quarter of 2020, the following entries were recorded in a general joumal to be posted to the accounts Credit Cash Accounts Receivable Sales Debit $210,000 $210,000 $120,000 41 S108,200 SG&A Exp Cash Accts Payable $97,133 $6,067 40 Sales $420,000 41 42 43 $108,200 SG&A Exp Cash Accts Payable Accum Depn-SG&A 44 45 $97,133 $6,067 $5,000 46 47 $412,436 48 49 Inventory Cash Accts Payable Accum Depn-Mfg COGS Inventory $304,958 $47,479 $60,000 50 S290,509 51 52 $290,509 53 54 55 $6,387 Income Tax Expense Income Tax Payable $6,387 56 57 $2,000 Savings Cash 56 $2.000 1 2 MASTER BUDGET PROJECT: SALES, PRODUCTION, DIRECT MATERIALS, AND DIRECT LABOR BUDGETS INSTRUCTIONS ACCT53621 Accounting Principles The budgeting process begins with a projection of sales Management provides the following estimates for 2021 and the fint two quarters of 2022 4 5 Projected Sales in Units at 560 Selling Price 7 2021 7.000 QI Q2 03 04 2022 7.000 15,000 12.000 16.000 8.000 12.000 16,000 20 Prepare Budgets for Sales Production Direct Materials and Direct Labor for 2021, using the following information and templates 18 15 Anal 1 Sales Budget Units Price Sales 01 7,000 560 $420,00 02 03 04 8.000 12,000 16.000 560 560 $480.000 $720,000 960.000 3000 560 52.580.000 20 Production Budget Sales 29 30 Anna 21 Ending lov Req Units 32 Q1 7,000 1.600 8,600 7000 1,600 Q2 B,000 2.400 10,000 1600 8,800 Q3 12.000 31200 15,200 2400 12.800 04 16,000 1,400 17.000 3200 14,200 33 Beg In 43,000 1.400 44.000 -7000 37.400 34 Reg Production 35 36 Direct Materials Inputs: Each unit requires 23 pounds costing $1.45 per pound 7 40 41 Annual 37.400 to DM Budget Units to Produce DM per unit Total pounds DM End Iny Beg Iny DM Required Cost per pound Total Cost of DM Q1 1,600 23 3.680 0 0 3,680 S145 S5,136 02 8.800 23 20,240 0 0 20,240 S1.45 $29.348 03 04 12.00 14,200 23 23 29.4.40 32.660 0 0 0 0 29.4.00 32.660 $145 $1.45 $42.63 $17,397 2.3 86,020 0 0 36,020 SLAS 5124720 49 9 to 11 12 Overhead Budget Inputs: Variable overhead: $0.40 per DLH Fixed overhead: $270,000 per quarter FOH applied on the basis of budgeted DLH 13 A 14 15 OH Budget VOH FOH Total 01 52.310 $270.00% $272.310 Q2 52,640 $270,000 $272.600 Q3 04 $3.960 $5280 $270,000 $270,000 $273.960 $275,28% 514190 51.000.000 $1.094.190 11 10 Annual 20 Selling General & Administrative Budget Inputs: 21 Variable SG&A - $2.00 per unit+1% Sales Fixed SG&A - 590,000 per quarter SG&A Budget VSGA 25 FSGA 20 Total SGA QI 02 $18,200 520.800 590.000 590,000 S10.206 S110.800 Q3 04 531,200 S11,600 $90,000 $90,000 S121,200 $131.60 SIL.RO 10,000 SITUM