I need help with the income statement everything else is fine and correct

Current Attempt in Progress Cullumber 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 2025. 1. Sales: quarter 1, 29,400 bags; quarter 2, 42,400 bags. Selling price is $63 per bag. Direct materials: each bag of Snare requires 4 pounds of Gumm at a cost of $4 per pound and 6 pounds of Tarr at $1.50 per pound. 3. Desired inventory levels: Type of Inventory January 1 April 1 July 1 Snare (bags) 8,500 12,200 18,500 Gumm (pounds) 2,300 10,400 13,100 Tarr (pounds) 14,400 20,500 25.300 4, 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. 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 $298,000 in quarter 1 and $423,500 in quarter 2 {Note: Do not prepare the manufacturing overhead budget or the direct materials budget for Tarr.) Eignment: Company Master Budget Question 1 of 1 066/1 = i CULLUMBER FARM SUPPLY COMPANY Sales Budget Quarter Six 1 2 Months Expected Unit Sales V' ' 29400 42,400 | ' 71800 Prepare the production budget. CULLUMBER FARM SUPPLY COMPANY Production Budget For the Six Months Ending June 30, 2025 Quarter ent: Company Master Budget Question 1 of 1 0.66 / 1 Total Required Units 41600 60900 Less Beginning Finished Goods Units 8,500 i 12,200 Required Production Units 33,100 48,700 eTextbook and Media Attempts: 1 of 3 usedment: Company Master Budget Question 1 of 1 0.66 / 1 E 1 2 Months 29400 42,400 g Finished Goods Units 12,200 18,500 41600 60900 ished Goods Units 8,500 12,200 33,100 48,700 81800 e Textbook and Media Attempts: 1 of 3 usedCULLUMBER FARM SUPPLY COMPANY Direct Materials Budget-Gumm For the Six Months Ending June 30, 2025 Quarter Six 1 2 Months 33,100 48,700 ment: Company Master Budget Question 1 of 1 0.66/1 ... 142800 207900 Materials (Pounds) 9300 i 10,400 ction 133500 197,500 4 4 urchases 534,000 790,000 1324000Prepare the direct labor budget. (Enter Direct labor time per unit in proportion to hours, e.g. for 45 minutes the proportion will be 0.75.) CULLUMBER FARM SUPPLY COMPANY Direct Labor Budget For the Six Months Ending June 30,2025 Quarter Six Esignment: Company Master Budget Question 1 of 1 066/1 = uired Direct Labor Hours V' 12,175 :ct Labor Cost V' % 132,400 % ' 194,800 | 5 | 327200 Your answer is partially correct. Prepare the direct materials budget. (Round Cost per pound answers to 2 decimal places, e.g. 52.70.) CULLUMBER FARM SUPPLY COMPANY Direct Materials Budget-Gumm For the Six Months Ending June 30, 2025 Quarter 1 2 Units to be Produced 33,100 48,700 nment: Company Master Budget Question 1 of 1 0.66/1 Total Materials Required 142800 207900 Less Beginning Direct Materials (Pounds) 9300 10,400 Total Pounds Needed for Production 133500 197,500 Cost per Pound 4 4 Total Cost of Direct Materials Purchases $ 534,000 790,000Prepare the direct labor budget. (Enter Direct labor time per unit in proportion to hours, e.g. for 45 minutes the proportion will be 0.75.) CULLUMBER FARM SUPPLY COMPANY Direct Labor Budget For the Six Months Ending June 30,2025 + Quarter Units to be Produced Direct Labor Time (Hours) per Unit Total Required Direct Labor Hours Direct Labor Cost per Hour Si Mor Total Direct Labor Cost v $ 132,400 | | 194 800 fnment: Company Master Budget Question 1 of 1 Bo6/l = & Selling and Administrative Expense Budget For the Six Months Ending June 30,2025 + Quarter 1 2 Budgeted Sales in Units v ' $ 29400 $ 42400 Si Mot = Fixed Expenses v' $ ' 176000 | 3 | 176000 Variable Expenses V' 277830 400680 Total Selling and Administrative Expenses $ 453830 $ | 576680 CULLUMBER FARM SUPPLY COMPANY Selling and Administrative Expense Budget For the Six Months Ending June 30, 2025 Quarter Six 2 Months les in Units v $ 29400 % ' 42400 | $ | 71800 176000 % ' 176000 | $ | 352000 enses v 277830 ' 400680 | | 678510 and Administrative Expenses + 5 453830 % ' 576680 | $ | 1030510 i [ =+ eTextbook and Media Solution Attempts: 3 of 3 used (c) Prepare the budgeted multiple-step income statement for the first 6 months. (Round intermediate calculations to 2 decimal places and final answer to O decimal places, e.g. 1,255.) CULLUMBER FARM SUPPLY COMPANY Budgeted Income Statement For the Six Months Ending June 30,2025 W+ Sales v $ 4523400 Cost of Goods Sold v 81800 Question 1 of 1 0.66/1 = : Income from Operations - Interest Expense - 100,000 Income Before Income Tax v