flc: Chapter 24 Question 1 of 2 30.51/50 Prepare the budete musincome statement for the month Round intermediate conto decimal places and final www to decimal places, 1255) WILDHORSE FARM SUPPLY COMPANY Budgeted Income Statement For More Wildhorse Form supely Company manufactures and set pesticide canvi Store. The followme data are avantate for preparing budgets for Snare for the first 2 quarters of 2022 Sales quarter 1.28,400 bags cuarter 2.42.600 bags Selling price is $61 per bag Direct materiah each of of Snace requires 4 pounds of Game at a cost of 54 per pound and pounds of Tarrat $1.8 per 1 2 pound 3. Dested inventory level April July 1 12,300 18.000 Type of Inventory January 1 Sarees 8.400 Gumpounds 9.200 Tarr pound 14 500 10.200 13400 20,200 25,300 4 5 Directori de laboris 15 minutes per botan hourly rate of $16 per hour Selling and strative expenses are expected to be 15% of sales plus 5176,000 per quarter Interest expenses $100.000 lecomes expected to be of income before income taxes. 6 7 Your assistant has prepared two but the manufacturing overhead but shows expected costs to be 125 of strectator cant, and the direct material budget for Torrow the cost of purchases to be $300.000 in quarter and $425.00 in care