Cheyenne Company manufactures and sells a pesticide called Snare. The following data are available for preparing budgets for Snare for the first 2 quarters of 2017 1. Sales: quarter 1, 29,800 bags; quarter 2, 43,700 bags. Selling price is $63 per bag. Direct materials: each bag of Snare requires 4 pounds of Gumm at a cost of $3.80 per pound and 6 pounds of Tarr at S1.75 per pound. Desired inventory levels: 3. Type of Inventory Snare (bags) Gumm (pounds) Tarr (pounds) January 1 April July 1 8,200 12,100 18,500 9,500 10,100 13,200 14,10020,300 25,200 4. Direct labor: direct labor time is 15 minutes per bag at an hourly rate of $14 per hour 5. Seling and administrative expenses are expected to be 15% of sales plus $180,000 per quarter. 6. Interest expense is $100,000. 7. Income taxes are expected to be 30% of income before income taxes. Your a of Tarr purchases to be $298,000 in quarter 1 and $423,500 in quarter 2. ssistant has prepared two budgets: the manufacturing overhead budget shows expected costs to be 125% ar area labor a st, and 2) the area nateras o 1 get for tam an s the est (a) Prepare the sales budget. CHEYENNE COMPANY Sales Budget Quarter Six Months 2 Expected unit sales Unit selling price $ Total sales Prepare the production budget. CHEYENNE COMPANY epare the production budget. CHEYENNE COMPANY Production Budget Quarter Six Months 2 Click if you would like to Show Work for this question: Open Show Work