Speria Mtuncfoenuing Company makes two components deled as 12 and 087. selected budgetary data for 2018 follow C12 Pequrmeres for each tihed component RM1 RM RM3 Direct labor Product information Sales price Sales (unit) Estimated beginning inventory (units) Desired ending inventory furito) 10 pounds 0 2 pounds 2 hours pour 4 pound 1 pound 3 hour s 180 12.000 450 300 $240 9,000 150 200 Cost per pound Estimated beginning inventory in pounds Desired ending inventory in pounds Direct Materials information RM1 RM2 RMS 5 2 $ 150 $ 0.50 2.300 2,000 700 3.600 1.100 1.500 The firm expects the average wage rate to be $25 per hour in 2019. Spring Manufacturing uses direct labor hours to apply overhead Each yem fem determines the overhead application rate for the year based on budgeted direct labor hours for the year. The firm maintains negligible w Process Inventory and expects the cost per unit for both beginning and ending inventories of finished products to be identical Factory Overhead Information indirect materiais-arable $ 10.000 Miscellaneous supplies and tools--variable 5.100 Indirect labor-variable 42.000 Supervision-fixed 160,000 Payroll taxes and forge benefits--variable 220,000 Maintenance costs-forced 17,000 Maintenance costs-variable 10,040 Depreciationed 71,310 Heat, and power-lixed 43,450 Heat, light, and power-variable 9.000 Total 5.587 000 Advertising Sales salaries Travel and entertainment Depreciation Warehouse Office salanes Executive salanes Supoles Depreciation office Total Selling and Administrative Expense information $ 57,000 220,000 63.000 800 61 000 250.000 2700 6000 The effective income tax rate for the company is 30% Required: 1. Prepare the sales budget for 2019 2. Prepare the production budget for 2010 3. Prepare the Direct materials purchases budget (units and dollars) for 2010 4. Prepare the Direct labor budget for 2019, 5. Prepare the factory overhead budget for 2019, 6. Prepare the cost of goods sold and ending finished goods inventory budgets for 2018 7. Prepare the soiling and administrative expense budget, broken down into two components: Selling Expenses, and Administrative Expenses for 2019, 8. Prepare the Budgeted income statement, the last item of which is labeled Alter-tax Operating Income for 2010