prepare the budgeted multiple step income statement for the first 6 months

Cullumber Farm Supply Company mamuachures 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, 29,400 bagkquarter 2,42.400 bags. Selling price is 563 per bag. 2. Direct materials: each bag of 5 ciare requires 4 pounds of Gumm at a cost of $4 per pound and 6 pounds of Tarr at $1.50 per pound. 3. Desired inventory levele: 4. Direct laboridirect abor time is 15 minutes per bag at an hourly rate of $16 per hour. 5. Selling and administrative expenes are expected to be 15% of sales plus $176,000 per quartec. 6. Interest expense is $100,000. 7. Income taxes are expected to be 20% of income before income taxel. Your assatant has prepared two budgets: (1) the manufacturing overhead badget shows expected costs to be 125 W of direct labor cost, and (2) the direct materials budget for Tarr shows the cost of Tarr purchsses to be $298.000 in quarter 1 and $423.500 in quarter 2 . (Note Donot orepare the manutacturing owethead budect or the direct materials badget for farc) Prepare the sales budget Prepare the production budget. Prepare the production budset. Dransura the direst materials budset. (Round Cost per pound answers to 2 decimal places, es. 52.70.) Prepare the direct labor buifget. (Enter Direct labor time per unit in proportion to hours, es, for 45 minutes the groportion wilf be 0.75. ) Prepare the direct labor budget (Enter Direct lobor time per unit in proportion to hours, e.8. for 45 minutes the proportion will be 0.75. ) CULLUMBER FARM SUPPLY COMPANY Direct Labor Budget For the Six Months Ending June 30,2022 Quarter CULLUMBER FARM SUPPLY COMPANY Selling and Administrative Expense Budget For the Sox. Months Endine June 30.2022 Quarter Variable Expenses \( 5 \longdiv { 2 7 7 8 3 0 } \) 5400680 \( 5 \longdiv { 6 7 8 5 1 0 } \) Fioed Expenses Total Seliing and Adeninhstrative Expenses s Prepare the budgeted multiplesstep income statement for the first 6 months. (Round intermediate calculations to 2 decimol ploces and final answer to 0 decimal ploces, es. 1.255.)