Show Attempt History Current Attempt in Progress 1 Oriole Farm Sepoly Company manufactures and sells a pesticide called Srate. The following data are available for preparing budgets for Smare for the first 2 quarters of 2020 Sales. quarter 1.29300 a quarter 2.43.800 bus. Selling price is $63 per bag Direct materials each bag of Sriate requires to pounds of Gurmat a cost of $3,80 per pound and 6 pounds of Tarrat $1.75 per pound Desired invertory levelse 2 3 Type of inventory January 1 April 1 July 1 Snare (bags 3.200 12.100 18.500 Gumm (pounds 9.500 10.100 13200 Tart (pounds 34 100 20:300 25:200 9247 $ 0 425/2002 1.67/5 III 4. 5. Direct labor: direct labor time is 15 minutes per bag at an hourly rate of $16 per hour. Selling and administrative expenses are expected to be 15% of sales plus $180,000 per quarter. Interest expense is $100,000 Income taxes are expected to be 30% of income before income taxes. 6. 7. 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 budget for Tarr shows the cost of Tarr purchases to be $298,000 in quarter 1 and $423.500 in quarter 2. (Note: Do not prepare the manufacturing overhead budget or the direct materials budget for Tarr) Your answer is correct Prepare the sales budget Question 2 of 2 > 1.67/5 II! . Prepare the sales budget. ORIOLE FARM SUPPLY COMPANY Sales Budget For the Six Months Endine une 30, 2020 Quarter Six Months 2 Expected Unit Sales 29000 43900 23400 Units 5 63 $ 63 Total Sale S 177400 5 275941 5 1636800 Prepare the production budget ORIOLE FARM SUPPLY COMPANY Production Budget ORIOLE FARM SUPPLY COMPANY Production Budget For the Six Months Endingane 30,2020 Quarter 2 Expected Unit Sales 29800 43800 Add Desired Ending Fished Goods Units 12100 18500 Tot Required Units 41900 62300 Less Benned Goods Units 200 -12100 Reculled Production Units 100 50200 so 124 PM 1/25/2022 months Ending in 2020 Quarter 2 Sex Months 29900 43800 3 Finished Goods Units 12100 18500 41900 62300 shed Goods Units - 8200 12100 33700 50200 53900 325 PM 4/25/2002 ORIOLE FARM SUPPLY COMPANY Direct Materials Budget Gumm Quarter LINK INICIO * $0 125 PM 4/25/2002 1.6775 TIT * sa 125 PM 4252222 ilma $ $ 3:25 PM 4/25/2002 Quarter M DLUKE $ 3:26 PM 11 * DS A do 4/25/22 Direct Labor Budget Quarter 2 Six Months III. $ a O 3:26 PM 4/25/2022 ORIOLE FARM SUPPLY COMPANY Selling and Administrative Expense Budget Quarter 1 2 $ $ linii *a 326 PM 4/25/2022 Selling and Administrative Expense Budget Quarter SEX Months 2 $ 30 3:26 PM 4/01/2022 Prepare the budgeted multiple step income statement for the first 6 months (Round intermediate calculations to 2 decimal places and final answer to decimal places, es 1.255.) ORIOLE FARM SUPPLY COMPANY Budgeted Income Statement IN EST Sunny 0 Question 2 of 2 1.67/5 IT
