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 2025. 1. 2. 3. Type of Inventory January 1 Snare (bags) Gumm (pounds) Tarr (pounds) 4. 5. Sales: quarter 1, 29,800 bags; quarter 2, 43,800 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 $1.75 per pound. Desired inventory levels: 6. April 1 July 1 18,500 9,500 10,100 13,200 8,200 12,100 14,100 20,300 25,200 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 $180,000 per quarter. Interest expense is $100,000 for the 2 quarters.
Just need the income statement (last picture)
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 2025. 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. Desired inventory levels: 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 $180,000 per quarter. 6. Interest expense is $100,000 for the 2 quarters. Prepare the sales budget. ORIOLE FARM SUPPLY COMPANY Production Budget For the Six Months Ending June 30, 2025 \% Quarter 1 Expected Unit Sales Add : : Desired Ending Finished Goods Units : Total Required Units Required Production Units 2 eTextbook and Media Quarter Units to be Produced Direct Materials per Unit Direct Labor Cost per Hour Add * : Desired Ending Direct Materials (Pounds) * Total Materials Required Less : : Beginning Direct Materials (Pounds) Direct Materials Purchases Total Required Direct Labor Hours Total Cost of Direct Materials Purchases : 1 2 $ $ ORIOLE FARM SUPPLY COMPANY Direct Labor Budget For the Six Months Ending June 30, 2025 ; Quarter 1. yials per Unit Cost per Hour Labor Cost \begin{tabular}{l} Qu \\ 1 \\ \hline \end{tabular} 2 Six Months ORIOLE FARM SUPPLY COMPANY Selling and Administrative Expense Budget For the Six Months Ending June 30, 2025 ; Quarter 1 $ les and Administrative Expenses * 2 180,000 Six Months STexthonk and Media Prepare the budgeted multiple-step income statement for the first 6 months. (Round intermediate calculations to 2 decima places and final answer to 0 decimal places, e.g. 1,255.) 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 2025. 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. Desired inventory levels: 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 $180,000 per quarter. 6. Interest expense is $100,000 for the 2 quarters. Prepare the sales budget. ORIOLE FARM SUPPLY COMPANY Production Budget For the Six Months Ending June 30, 2025 \% Quarter 1 Expected Unit Sales Add : : Desired Ending Finished Goods Units : Total Required Units Required Production Units 2 eTextbook and Media Quarter Units to be Produced Direct Materials per Unit Direct Labor Cost per Hour Add * : Desired Ending Direct Materials (Pounds) * Total Materials Required Less : : Beginning Direct Materials (Pounds) Direct Materials Purchases Total Required Direct Labor Hours Total Cost of Direct Materials Purchases : 1 2 $ $ ORIOLE FARM SUPPLY COMPANY Direct Labor Budget For the Six Months Ending June 30, 2025 ; Quarter 1. yials per Unit Cost per Hour Labor Cost \begin{tabular}{l} Qu \\ 1 \\ \hline \end{tabular} 2 Six Months ORIOLE FARM SUPPLY COMPANY Selling and Administrative Expense Budget For the Six Months Ending June 30, 2025 ; Quarter 1 $ les and Administrative Expenses * 2 180,000 Six Months STexthonk and Media Prepare the budgeted multiple-step income statement for the first 6 months. (Round intermediate calculations to 2 decima places and final answer to 0 decimal places, e.g. 1,255.)
