Cook Farm Supply Company manufactures and sells a pesticide called Snare. The following data are wailable for preparing budgets for Snsre for the first 2 quarters of 2022 1. Sales: quarter 1,40,000 bags; quarter 2,56,000 bags Selling price is $60 per bag 2. Direct inaterials: each bag of Snare requires 4 pounds of Gumm at a cost of $3.8 per pound and 6 pounds of Tart at 51.50 per pound 3. Desired inventory levels: 4. Direct labor: direct labor time is 15 minutes per bag at an hourly rate of $16 per hour 5. Seliing and administrative expenses are expected to be 15 s of sales plus 5175,000 per quarter. 6. Interest expense is 3100,000 . 7. Income taves are expected to be 2014 of income before income taxes. Your assistant has prepared two budgets (1) the manufacturing overhead budget showr expected costs to be 12556 of direct iabor cost, and (2) the direct materials budget for Tarr ahows the cost of Tarr purchases to be 3297,000 in quarter 1 and 5439,500 in quarter 2. (Wote Do not prepare the manufacturing overhead budget or the direct materials budget for Tarr] Prepare the production budzet Prepare the seiling and administrative expense budget. Prepare the budgeted muitiple-step income statement for the first 6 months. (Round intermedliote colculations to 2 decimal ploces and final orswer to 0 decimal ploces es. 1,255)