Jones Corporation has the following July August September October for the selected four-month period Unit Sales 20,000 35,000 25,000 30,000 Plans are to have an inventory offinished product equal to 20% of the unit sales for the Sales price per unit is $180 Three pounds of materials are required for each unit produced. Eachpo osts $20. Inventory levels for materials equal 30% of the needs for the next month. September is 25,200 pounds of material. esired ending inventory for inventory for July was 20,200 pounds of material Each unit requires 0.6 hours of direct labor and the average wage rate is S Variable overhead rate is $3.50 per direct labor hour. There is also fixed overhead of 22,000 per month The company pays a 3% commission on sales Company has fixed selling and administrative e Rent $6,000/month Utilities $1,200/month Advertising $400/month Office Salaries $35,000/month Beginning Required: A. Prepare a sales budget for July, August, and September and in toa fr the quarks Prepare production budgets for July, August, and September and in total for the quarter. Prepare a direct materials purchases budget in pounds and dollars for July, August, and September and in total for the quarter. Prepare a direct labor budget in hours and total ost forJuly, August and Saptember and in total for the quarter. Prepare an overhead budget for July, August and September and in total for the quarte Prepare a selling and administrative expenses budget for July, August and September and in total for the quarter Prepare an ending finished gods inventory budget for the quarer Hint You have already calculated the desired ending finished goods inventory quantity. Assume a stable per unit rate and round the per unit fixed factory overhead rate to two decimal places.) B. E. the 35% tax HPrepare a cost of goods sold budget for the quarter a budged income statement for the quarter-the company falls into repare racket for income taxes