Oriole 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. Sales: quarter 1,29,800 bags: quarter 2,43,800 bags. Selling price is $63 per bag. 2. Direct materials: each bag of Snare requires 4 pounds of Gumm at a cost of $4 per pound and 6 pounds of Tarr at $1.75 per pound. 3. Desiredinventorylevels: 4. Direct labor: direct labor time is 15 minutes per beg at an hourly rate of $16 per hour. 5. Selling and administrative expenses are expected to be 15% of sales plus $180.000 per cuarter. 6. Interest expense is $100,000 7. Income taxes are expected to be 2036 of income before income taxes. Your assistant has prepared two budgets: (1) the manufacturing overhead budget shows expected costs to be 12596 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 5423,500 in quarte