Preparation of Individual Budgets During the first calendar quarter of 2019, Williams Corporation is planning to manufacture a new product and introduce it in two regions. Market research indicates that sales will be 8,000 units in the urban region at a unit price of $65 and 6,000 units in the rural region at $55 each. Because the sales manager expects the product to catch on, she has asked for production sufficient to generate a 4,000-unit ending inventory. The production manager has furnished the following estimates related to manufacturing costs and operating expenses: Variable Fored (per unit) (total) Manufacturing costs Direct materials A (2 lb. 52.50/1b. 55.00 B15 ib. 51.40/ 7.00 Direct labor 12 hours per 10.00 Manufacturing overhead Depreciation 122.500 Factory supplies 055 2500 supervisory salaries 16.250 065 9.200 125 050 12.500 20.000 4200 Office salaries "Varies per unit old, not per un produced a. Assuming that the desired ending inventories of materials A and B are 4,000 and 20,000 pounds, respectively, and that work-in-process inventories are immaterial, prepare budgets for the calendar quarter in which the new product will be introduced for each of the following operating factors: Do not use negative signs with any of your answers below. 1. Total sales 2. Production units Support 3. Material purchases cost Material A Material B Total pounds (lbs.) required for production Desired ending materials inventory Total pounds to be available Beginning materials inventory Total material to be purchased (lbs.) Total material purchases i 4. Direct labor costs 5. Manufacturing overhead costs Fixed Variable Total Depreciation Factory supplies Supervisory salaries Other Total manufacturing overhead 6. Selling and administrative expenses Fixed Variable Total Selling expenses: Advertising Sales salaries and commissions Other Total selling expenses Administrative expenses Office salaries Supplies Other Total administrative expenses Total selling and administrative deres b. Using data generated in requirement al prepare a bude Round answers to the nearest whole number Williams Corporation Budgeted Income Statement For the Quarter Ended March 31, 2019 Sales Cost of Goods Sold: Beginning inventory - Finished Goods Material: Beginning Inventory - Material Material Purchases Material Available Ending Inventory - Material Direct Material Direct Labor Manufacturing Overhead Total Manufacturing Cost Cost of Goods Available for Sale Ending inventory - Finished Goods Cost of Goods Sold Gross Profit Operating Expenses Selling Expenses Administrative Expenses Tutal Operating Expenses income before income Taxes Income Tax Expense