Problem 9-1A (Part Level Submission) (Video) Cook Farm Supply Company manufactures and sells a pesticide called Snare. The following data are available for preparing budgets for Snare for the first 2 2020. 1. Sales: quarter 1, 28,400 bags, quarter 2, 43,800 bags. Selling price is $61 per bag. 2. Direct materials: each bag of Snare requires 4 pounds of Gumm at a cost of $3.80 per pound and 6 pounds of Tarr at $1.50 per pound. 3. Desired Inventory levels: Type of Inventory Snare (bags) Gumm (pounds) Tart (pounds) January 1 8,500 9,300 14,200 April 1 12,100 10,500 20,100 July 1 18,100 13,100 25,100 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 $177,000 per quarter 6. Interest expense is $100,000 7. Income taxes are expected to be 30% of income before income taxes. 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 for Tarr shows the cost of Tarr purchases to be $301,000 in quarter i and $427,500 in quarter 2 (Note: Do not prepare the manufacturing overhead budget or the direct materials budget for Tarr.) Your answer is partially correct. Try again. Prepare the sales budget COOK FARM SUPPLY COMPANY MacBook T ule ule production budget. COOK FARM SUPPLY COMPANY Production Budget For the Six Months Ending June 30, 2020 Quarter Six Months Expected Unit Sales 28300 43800 Add Desired Ending Finished Goods Units 18100 * Total Required Units T Less : Beginning Finished Goods Units 8500 Required Production Units 31900 Click if you would like to Show Work for this question: Open Show Work 61900 12100 49800] 1 81700 doen Show Work By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor Attempts: 1 of 15 used SAVE FOR LATER The parts of this question must be completed in order. This part will be available when you come to the part above. MacBook