Show me the steps to solve Preparation of Individual Budgets

During the first calendar quarter of the year, Clinton Corporation is planning to manufacture a new product and introduce it in two regions. Market research indicates that sales

will be $9,000$ units in the urban region at a unit price of $$53$ and $8,000$ units in the rural region at $$48$ each. Because the sales manager expects the product to catch on$,$ he has

asked for production sufficient to generate a $7,000-$unit ending inventory. The production manager has furnished the following estimates related to manufacturing costs and

operating expenses:

$*$Varies per unit sold, not per unit produced. a$.$ Assuming that the desired ending inventories of materials A and $B$ are $7,000$ and $9,000$ pounds, respectively, and that work$-$in$-$process inventories are immaterial, prepare

budgets for the calendar quarter in which the new product will be introduced for each of the following operating factors:

Do not use negative signs with any of your answers below.

Total sales

$

Production

units

Material purchase cost

Direct labor costs

$ Manufacturing overhead costs

$\backslash$table$[[,$Fixed,Variable,Total$],[$Depreciation$,$$$,$$$,$$$],[$Factory supplies,,,$],[$Supervisory salaries,,,$],[$Other$,,,],[$Total manufacturing overhead,,,$$]]$

Selling and administrative expenses

$\backslash$table$[[,$Fixed,Variable,Total$],[$Selling expenses:$],[$Advertising$,$$$,$$$,$$$],[$Sales salaries and commissions$],[$Other$],[$Total selling expenses,,,$$],[$Administrative expenses:$],[$Office salaries,$$,$$$,$$$],[$Supplies$,0,,],[$Other$],[$Total administrative expenses,,,$$],[$Total selling and administrative expenses,,,$$]]$ b$.$ Using data generated in requirement $($a$),$ prepare a budgeted income statement for the calendar quarter. Assume an overall effective income tax rate of $30\%.$

Round answers to the nearest whole number.

Do not use negative signs with your answers.