Requirement 1. Prepare Gerard's operating budget and cash budget for 2025 by quarter. Required schedules and budgets include: sales budget, production budget, direct materials budget, direct labor budget, manufacturing overhead budget, cost of goods sold budget, selling and administrative expense budget, schedule of cash receipts, schedule of cash payments, and cash budget. Manufacturing overhead costs are allocated based on direct labor hours. Round all calculations to the nearest dollar. Begin by preparing the sales budget. Prepare the production budget. Prepare the production budget. Review the sales budget you prepared above. Gerard Tire Company Direct Materials Budget For the Year Ended December 31, 2025 Gerard Tire Company Direct Labor Budget For the Year Ended December 31, 2025 Manufacturing Overhead Budget For the Year Ended December 31, 2025 Before preparing the cost of goods sold budget, calculate the projected manufacturing cost per tire for 2025. (Round all amounts to the nearest cent.) Gerard Tire Company Cost of Goods Sold Budget For the Year Ended December 31, 2025 Gerard Tire Company Selling and Administrative Expense Budget For the Year Ended December 31, 2025 Cash Receipts from Customers Accounts Receivable balance, December 31, 2025: 1th Qtr.-Credit sales, collection of Qtr. 4 sales n Qtr. 1 of 2026 $51,030 Cash Pavments Requirement 1. Prepare Gerard's operating budget and cash budget for 2025 by quarter. Required schedules and budgets include: sales budget, production budget, direct materials budget, direct labor budget, manufacturing overhead budget, cost of goods sold budget, selling and administrative expense budget, schedule of cash receipts, schedule of cash payments, and cash budget. Manufacturing overhead costs are allocated based on direct labor hours. Round all calculations to the nearest dollar. Begin by preparing the sales budget. Prepare the production budget. Prepare the production budget. Review the sales budget you prepared above. Gerard Tire Company Direct Materials Budget For the Year Ended December 31, 2025 Gerard Tire Company Direct Labor Budget For the Year Ended December 31, 2025 Manufacturing Overhead Budget For the Year Ended December 31, 2025 Before preparing the cost of goods sold budget, calculate the projected manufacturing cost per tire for 2025. (Round all amounts to the nearest cent.) Gerard Tire Company Cost of Goods Sold Budget For the Year Ended December 31, 2025 Gerard Tire Company Selling and Administrative Expense Budget For the Year Ended December 31, 2025 Cash Receipts from Customers Accounts Receivable balance, December 31, 2025: 1th Qtr.-Credit sales, collection of Qtr. 4 sales n Qtr. 1 of 2026 $51,030 Cash Pavments