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. 1. Sales: quarter 1,29,400 bags; quarter 2,42,600 bags. Selling price is $63 per bag. 2. 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 $1.75 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. Selling and administrative expenses are expected to be 15% of sales plus $179,000 per quarter. 6. Interest expense is $100,000. 7. Income taxes are expected to be 30% of income before income taxes. (Note: Do not prepare the manufacturing overhead budget or the direct materials budget for Tarr.) Prepare the sales budget. Prepare the production budget. Using multiple attempts will impact your score. 10% score reduction after attempt 1 Prepare the direct materials budget. (Round Cost per pound answers to 2 decimal places, e.g. 52.70.) Prepare the direct labor budget. (Enter Direct labor time per unit in proportion to hours, eg. for 45 minutes the proportion will be 0.75. ) COOK FARM SUPPLY COMPANY Direct Labor Budget Quarter \begin{tabular}{llll} \hline & 2 & Six \\ 1 & - & Months \\ \hline \end{tabular} Prepare the selling and administrative expense budget