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View Policies Show Attempt History Current Attempt in Progress Sandhill 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. 2. Sales: quarter 1, 28,000 bags:quarter 2,43,000 bags. Selling price is $61 per bag. Direct materials: each bag of Snare requires 5 pounds of Gumm at a cost of $4 per pound and 6 pounds of Tarrat $1.75 per pound. Desired inventory levels: 3. January 1 April 1 July 1 8.100 12.400 18,400 Type of Inventory Snare (bags) Gumm (pounds) Tarr (pounds) 9.200 10,400 13,500 14.400 20,300 25,300 4. 5. Direct labor direct labor time is 15 minutes per bag at an hourly rate of $16 per hodr. Selling and administrative expenses are expected to be 15% of sales plus $177,000 per quarter, Interest expense is $100,000 Income taxes are expected to be 20% of income before income taxes. 6. 7. 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 $302,000 in quarter 1 and $427,500 in quarter 2 (Note: Do not prepare the manufacturing overhead budget or the direct materials budget for Tarr) Prepare the direct materials budget. (Round Cost per pound answers to 2 decimal places, eg. 52.70.) SANDHILL FARM SUPPLY COMPANY Direct Materials Budget-Gumm For the Six Months Ending June 30, 2022 Quarter Six Months 2 33100 48700 5 5 duction 163000 243500 Direct Materials (Pounds) 10300 13300 173300 256800 ct Materials (Pounds) 9100 10300 164200 246500 $ 4 4 Purchaves $ 623960 936700 Prepare the direct labor budget. (Enter Direct labor time per unit in proportion to hours, eg for 45 minutes the proportion will be 0.75.) SANDHILL FARM SUPPLY COMPANY Direct Labor Budget For the Six Months Ending June 30, 2022 Quarter 1 2 Units to be Produced 32600 42700 Direct Labor Time (Hours) per Unit 25 25 Total Required Direct Labor Hours 8150 12175 Direct Labor Cost per Hour 16 16 Total Direct Labor Cost $ 130400 $ 194800 $ Prepare the selling and administrative expense budget. SANDHILL FARM SUPPLY COMPANY Selling and Administrative Expense Budget For the Six Months Ending June 30, 2022 Quarter 2 M Budgeted Sales in Units 28600 42800 Variable Expenses 261690 391620 $ Fixed Expenses 177000 177000 Total Selling and Administrative Expenses $ 438690 568620 eTextbook and Media Save for Later Attempts: 1 of 5 used Submit