help pls asap tq

|LIts to acetails Cook Farm Supply Company manufactures and sells a pesticide called Snare. The following datare available for preparing budget for State for the first 2 quarters of 2017. Sale quarter 1.400.000 hags: quarter 2.56.000 bags. Selling price is so per bag. 2. Direct materiale each bag of Share requires 4 pounds of Gumm at a cost of $3.0 per pored and 6 pounds of Tarra $1.50 pet pound. I. Dared inventory level Type of Inventory January Aprill Snare (bag) 8.000 15.000 18,000 Gumpounds) 9,000 10,000 13.000 Tot (pounds) 14.000 20,000 25,000 Direct labor direct labor time is 15 minutes per bag at an hourly rate of Sio per hour. Sching and administrative expenses are expected to be 15% of sales plus SL75,000 per quarter Interest Expense is $100,000 Ingome taxes are expected to be 30% of income before income taxes Yoer assistant has prepared two bodges: (1) The manufacturing overhead budget shows expected costs to be 12.9% of direct labor cast, and (2) The direct materials bodget for the shows the cost of Tag purchases to be $297,000 an quarter 1 and 5419.500 in quarter 2 Restrictions Prepare the budgeted multi-step income statement for the first 6 months and all required operating budgets by quarters. (Note: Use variable and fixed in the selling and administrative expense budget) Do not prepare the manufacturing overhead badge the direct materials hodget for Tarr. NOT- Enter a number in cells requesting a value enter either a number or a formula in cells with a "?". COOK FARM SUPPLY COMPANY Sales Budget For the Six Months Finding June 30, 2017 Quarter 1 2 Valee Value 560 SOO SEX Month Expected unit sales Unit selling price Total sales SEO Six Months COOK FARM SUPPLY COMPANY Production Budget For the Six Months Ending June 30, 2017 Quarter 1 2 Expected unit sales Vale Value Add: Desired ending finished poodit Value Value Total requiredits Less: Beginning finished goods units Value Required production units ? Six Months COOK FARM SUPPLY COMPANY Direct Materials Budget - Gumm For the Six Months Endins June 30, 2017 Quarter 1 2 Units to be produced Valee Value Direct materials per unit (lbs.) X 4ibs Xibs Total pounds needed for production 1 Add Desired ending direct materials lbs) Value Value Total materials required Les Beginning direct militials (lbs. Valoe Value Direct materials purchases Cost per pound X $3.80 X 3.80 Total cost of direct materials purchases COOK FARM SUPPLY COMPANY Six Months COOK FARM SUPPLY COMPANY Direct Materials Budget-Gumm For the Six Months Finding June 30, 2017 Quarter 2 Units to be produced Value Value Direct materials per units) X 4is X 4 Total pounds needed for production Add: Desired ending direct materials Vale Value Total materials required ? Less: Beginning direct materials (lbs.) Value Value Direct materials perchases Couper pound X $3,80 X SEO Total cost of direct materials purchases Six Months COOK FARM SUPPLY COMPANY Direct Labor Budget For the Six Months Ending June 30, 2017 Quarter 1 21 Units to be produced Valle Value Direct labor hours per unit X14 X 1/4 Total required direct labor hours Direct labor cost per hour X 516 X S16 Total direct labor cod . COOK FARM SUPPLY COMPANY Selling and Administrative Budget For the Six Month End June 10, 2017 Quarter Six Months Badgeted sales in its Value Value Variable i 15 sales Fixed Total Vale Value Value Value COOK FARM SUPPLY COMPANY Budgeted Income Statement For the Six Maths Ending June 30, 2017 Sales revenue Cost of goods sold Gross Profit Selling and administrative expenses Value Income from operations Interest expense Income before income tax Income tax expense (0%) 2 Net income Costnet B Ontity Total Cost Element Direct Materials Gumm Ther Direct Labor Manufacturing overhead (125% of direct labor cust) Total 4 pounds 6 pounds 3/4 hour Value Value Value