Problem 21-1A Cock Farm Supply Company manufactures and sells a pesticide called Share. The following data are wallable for preparing budgets for Snare for the first 2 cuarters of 2017 1. Sales quarter I, 28.000 bags quarter 2. 43,300 bags Selling price is $6 per bag 2. Direct materials: each bag of Snare requires 4 pounds of Gumm at a cost of $3.8 per pound and 6 pounds of Tarrat $1.50 per pound, 3. Desired inventory levels July 1 Type of Inventory Snare (bag) Gumm (pounds) Tare (pounds) January 1 8,400 9,500 14,500 April i 12,500 10,300 20.100 13.400 2 5.100 4. Direct labor direct labor time is 15 minutes per bag at an hourly rate of $14 per hout 5. Sering and administrative expenses are expected to be 15 of sales plus $177,000 per quarter 6. Interest expense is $100.000 7. Income taxes are expected to be of income before income taxes of direct borcos, and (2) the direct mana buget for a whows the cost of art purchases to be $100,000 in Your assistant has prepared two budgets (1) the manufacturing overhead budget shows expected costs to be 125 Quarter and 24,500 in quarter 2 Prepare the sales budget. COOK FARM SUPPLY COMPANY Sales Budget Quarter Six Months Expected unit sales Unit selling price Total sales Prepare the production budget. COOK FARM SUPPLY COMPANY Production Budget Quarter Six Months Prepare the direct materials budget. (Round Cost per pound answers to 2 decimal places, e.g. 52.70.) COOK FARM SUPPLY COMPANY Direct Materials Budget-Gumm Quarter Six Months Prepare the direct labor budget. (Enter Direct labor time per unit in proportion to hours, e.g. for COOK FARM SUPPLY COMPANY Direct Labor Budget Quarter Six Months Prepare the selling and administrative expense budget. COOK FARM SUPPLY COMPANY Selling and Administrative Expense Budget Quarter Six Months Prepare the budgeted multiple-step income statement for the first 6 months. (R COOK FARM SUPPLY COMPANY Budgeted Income Statement