Geting some part of the last two question wrong.

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 2022. 1 2 Sales: quarter 1, 10,000 bags: quarter 2, 56,000 bags. Selling price is $60 per bag Direct materials: cach bag of Snare requires 4 pounds of Gumm at a cost of $3.8 per pound and 6 pounds of Tarrat $1.50 per pound Desired Inventory levels 3 Type of Inventory January 1 April 1 July 1 Snare (bags) 8,000 15,000 18,000 9,000 10,000 13,000 Gumm (pounds) Tarr (pounds) 14,000 20,000 25,000 4 5. 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 $175,000 per quarter. Interest expenses $100,000 6 7 Income taxes are expected to be 20% of income before income taxes 6 Interest expense is $100,000 7 Income taxes are expected to be 20% 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 $297,000 in quarter 1 and $439,500 in quarter 2 (Note: Do not prepare the manufacturing overhead budget or the direct materials budget for Tarr.) Prepare the selling and administrative expense budget. COOK FARM SUPPLY COMPANY Selling and Administrative Expense Budget For the Six Months Ending June 30, 2022 4 Quarter Six Months 2 5 760 000 3360 000 2 400 000 les In Units $ 864000 504000 360000 $ enses 350000 175000 175000 535000 1214000 $ 679000 and Administrative Expenses COOK FARM SUPPLY COMPANY Budgeted Income Statement For the Six Months Ending June 30, 2022 $ $ 5760000 Sales 3187200 i Cost of Goods Sold 2572800 i Gross Profit Selling and Administrative Expenses 1214000 i Income from Operations, 1358800 i 100000 i Interest Expense Income Before Income Tax 1258800 i ON Income Tax Expense 377640 Net Income /(Loss) $ 881160