EOC8-2 Help Submit Save & Edit Check my werk 6 PA8-5 (Algo) Preparing Operating Budget Components (LO 8-31, 9, 1) 85 Wesley Power Tools manufactures a wide variety of tools and accessories. One of its more popular items is a cordless power handsaw. Each handsaw sells for $50 Wesley expects the following unit sales AUTY February Mareh April 2,500 2.600 3,000 2,600 2,200 -500 way Wesley's ending finished goods inventory policy is 25 percent of the next month's sales Suppose each handsaw takes approximately 0.55 hours to manufacture, and Wesley pays an average labor wage of rences Each hendisaw requires a plastic housing that Wesley purchases from a supplier at a cost of $4.00 each. The company has an ending direct materials inventory policy of 10 percent of the following month's production requirements. Materials other than the housing unit total $4.50 per handisaw. Manufacturing overhead for this product includes $60,000 annual foxed overhead (based on production of 24,000 units and $0.90 per unit variable manufacturing overhead. Wesley's selling expenses are 4 percent of sales dollars, and administrative expenses are fixed at $17,000 per month Required: 1. Compute the budgeted cost of goods sold for the first quarter. 2. Compute the budgeted selling and administrative expenses for the first quarter. 3. Complete the budgeted income statement for the handsaw product for the first quarter. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Compute the budgeted cost of goods sold for the first quarter. (Round direct material, direct labor and overhead costs per unit to 2 decimal places. Round final answers to the nearest dollar amount) January February March Tnt Quarter Total Budgeted Cost of Goods Sold Required 2 >