"education.wiley.comCampusWeek 7 -anment: Company Master Budgetww Question 1 of 1 - Wask 7 - Assignment: Company M..Searchnment: Company Master BudgetQuestion 1 of 1-11 8Sheridan Farm Supply Company manufactures and sells a pesticide called Snare. The following data are available for preparingbudgets for Snare for the first 2 quarters of 2025.1.Sales: quarter 1, 28,600 bags; quarter 2, 42,600 bags. Selling price is $63 per bag.Direct materials: each bag of Snare requires 5 pounds of Gumm at a cost of $4 per pound and 6 pounds of Tarr at $1.75 per2.pound.3.Desired inventory levels:Type of InventoryJanuary 1April 1July 1Snare (bags)8,20012,10018,500Gumm (pounds)9.40010,30013.400Tarr (pounds)14,50020.10025,5004.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 $176,000 per quarter.6.Interest expense is $ 100,000 for the 2 quarters.MacBook AirF2F3886F4F5F644F7FBF9F10359OERTYUOPDFGHJK education.wiley.comme | iCampus(73 Week 7 - Assignment: Company Master Budgetwe Question 1 of 1 - Week 7 - Assignment: Company M.Search Results | Cossignment: Company Master BudgetQuestion 1 of 1