Cook Farm Supply Company manufactures and sells a pesticide called Snare. The following data are available for preparing budgets for Snare for the first 2 quarters of 2020 Sales: quarter 1, 28,400 bags; quarter 2, 42,600 bags. Selling price is $61 per bag Direct materials: each bag of Snare requires 4 pounds of Gumm ata cost of $3.80 per pound and 6 pounds of Tarr at $1.75 per pound . Desired inventory levels April 1July 1 January Type of 1I Snare (bags) Gumm (pounds) Tarr (pounds) 12,300 18,100 10,200 13,400 14,500 20,200 25,300 8,400 9,200 Direct labor: direct labor time is 15 minutes per bag at an hourly rate of $16 per hour. Selling and administrative expenses are expected to be 15% of sales plus $176,000 per quarter . Interest expense is $100,000 7. Income taxes are expected to be 30% of income before income taxes. Your assistant has prepared two budgets: (1) the manufacturing overhead budget shows expected costs to be 125% of direct labor cost, and (2) the direct materials budget for Tarr shows the cost of Tarr purchases to be $303,000 in quarter 1 and $425,500 in quarter 2 Note: Do not prepare the manufacturing overhead budget or the diredt materials budget for Tarr.) Your answer is partially correct. Try again Prepare the sales budget. COOK FARM SUPPLY COMPANY Sales Budget Quarter Six Your answer is partially correct. Try again. Prepare the sales budget. COOK FARM SUPPLY COMPANY Sales Budget Quarter 61 61 Unit Selling Price Total Sales Prepare the production budget. COOK FARM SUPPLY COMPANY Production Budget Expected Unit Sales Desired Ending Finished Goods Units 40700 Beginning Finished Goods Units Required Production Units TEXT LINK TO By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor. Attempts: 3 of 3 used Prepare the direct materials budget. (Round Cost per pound answers to 2 decimal places, e.g. 52.70.) COOK FARM SUPPLY COMPANY Direct Materials Budget-Gumm Prepare the direct materials budget. (Round Cost per pound answers to 2 decimal places, e.g. 52.70. COOK FARM SUPPLY COMPANY Direct Materials Budget-Gumm Quarter Prepare the direct labor budget. (Enter Direct labor time per unit in proportion to hours, e.g. for 45 minutes the proportion will be 0.75.) COOK FARM SUPPLY COMPAN Direct Labor Budget Quarter Prepare the selling and administrative expense budget. COOK FARM SUPPLY COMPANY Selling and Administrative Expense Budget Quarter Prepare the direct labor budget. (Enter Direct labor time per unit in proportion to hours, e.g. for 45 minutes the proportion will be 0.75.) COOK FARM SUPPLY COMPANY Direct Labor Budget Quarter Six Prepare the selling and administrative expense budget. COOK FARM SUPPLY COMPANY Selling and Administrative Expense Budget Quarter By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor