Spring Manufacturing company has provided the following information related to their two producs C12 a Finished Components Requirements for each finished compone RM1 RM2 RM3 C12 D57 9 pounds 8 pounds 0 4 pounds 2 pounds 1 pounc Direct labo Product informatior Sales price 1.5 hours 2 hours $115 $165 Sales unit: 12,500 17,500 Estimated beginning inventory (uni 400 150 Desired ending inventory (unit 300 200 Direct Materials Informatic RM1 RM2 RM3 Cost per poun Estimated beginning inventory in pour Desired ending inventory in poun $2.25 $2.00 $0.75 3,000 1,500 1,000 4,000 1,000 1,500 The wage rate is $20 per house. Overhead is allocated based on direct labor t Variable Indirect materials-variabl Miscellaneous supplies and tools-variat Indirect labor-variabl Maintenance costs-variabi Heat, light, and power-variab Payroll taxes and fringe benefits-varial Fixed: Supervision-fixe Maintenance costs-Tixe Depreciation-fixe Heat, light, and power-fixe lota Advertising Sales salaries Iravel and entertainme Depreciation-warehous Office salaries Executive salarie Supplies Depreciation-office Tota Income Tax Rat Prepare the following Budget Sales Budge Production Budge Direct Materials Budget Direct Labor Budge COGS Budget Income Statemer Factory Overhead Information $10,000 $5,000 $40,000 $10,080 $11,000 $250,001 $120,000 $20,000 $71,330 $43,420 $580,830 Semny anu Aumnistrative Expens Information $60,000 $200,001 $60,000 $5,000 $60,000 $250,00 $4,000 $6,000 $645,001 40%