Spring Manufacturing Company makes two components identified as C12 and D57 Selected budgetary data for 2019 follow 40 Finished Components D57 C12 Requirements for each finished component RM 1 RM 2 RM 3 Direct labor 10 pounds 8 pounds 4 pounds 1 pound 2 pounds 2 hours oints 3 hours Silpedrodbet prformat.ion Sales price Sales (units) Estimated beginning inventory (units) Desired ending inventory (units $160 12,000 s 250 12,000 200 200 400 300 Direct Material Information RM1 RM2RM3 $6 4.500.50 Cost per pound Estimated beginning inventory in pounds Desired ending inventory in pounds 3,500 1,200 500 4,100 1,4002,000 The firm expects the average wage rate to be $25 per hour in 2019. Spring Manufacturing uses direct labor hours to apply overhead Each year the firm determines the overhead application rate for the year based on budgeted direct labor hours for the year. The firm maintains negligible Work-in-Process Inventory and expects the cost per unit for both beginning and ending inventories of finished products to be identical Factory Overhead 40 Information Indirect materials-variable Miscellaneous supplies and tools-variable Indirect labor-variable Supervision-fixed Payroll taxes and fringe benefits-variable Maintenance costs-fixed Maintenance costs-variable Depreciation-fixed Heat, light, and power-fixed Heat, light, and power-variable s 15,000 5,400 45,000 120,000 260, 000 18,000 10,050 71,340 43,400 11,000 $599,190 ints Skipped Total Selling and Administrative Expense Information Advertising Sales salaries Travel and entertainment Depreciation-warehouse Office salaries Executive salaries Supplies Depreciation-office $ 61,000 240,000 55,000 4,900 60,000 300,000 3,800 6,300 $731,000 Total The effective income tax rate for the company is 50%. Required: 1. Prepare the Sales budget for 2019. 2. Prepare the Production budget for 2019 3. Prepare the Direct materials purchases budget (units and dollars) for 2019 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 2019. 7. Prepare the Selling 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 After-tax Operating Income for 2019. oints Expenses for 2O19 8. Prepare the Budgeted income statement, the last item of which is labeled After-tax Operating Income for 2019. Complete this question by entering your answers in the tabs below. Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 Required 1 oints Skipped Prepare the Sales budget for 2019. SPRING MANUFACTURING COMPANY Sales Budget For the Year 2019 C12 Total D57 Sales (in units) Selling price per unit Total sales revenue Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 Prepare the Production budget for 2019. ints Skipped SPRING MANUFACTURING COMPANY Production Budget For the Year 2019 C12 D57 Budgeted sales (in units) Total units needecd Budgeted production (in units) Prepare the Direct materials purchases budget (units and dollars) for 2019. (Round "Cost per pound" to 2 decimal places.) 40 SPRING MANUFACTURING COMPANY Direct Materials Purchases Budget (units and dollars) For the Year 2019 D57 Total C12 Raw material (RM) 1 ints Budgeted production Skipped RM 1 needed for production Total RM 1 needed (ibs.) Required purchases of RM 1 (bs.) Budgeted purchases, RM 1 Raw material (RM) 2: Budgeted production RM 2 needed for production Total RM 2 needed (Ibs.) Required purchases of RM 2 (Ibs) Budgeted production RM 2 needed for production 0 Total RM 2 needed (Ibs.) Required purchases of RM 2 (lbs.) ints Skipped Budgeted purchases, RM 2 Raw material (RM) 3 Budgeted production RM 3 needed for production 0 Total RM 3 needed (Ibs.) Required purchases of RM 3 (Ibs.) 0 Budgeted purchases, RM 3 0 below. Complete this question by entering your answers in the tabs 40 Required 1 Requird Required 3 Required 4Required 5 Required 6 Required 7 Prepare the Direct labor budget for 2019... nts SPRING MANUFACTURING COMPANY Direct Labor Budget For the Year 2019 Skipped Total D57 C12 Budgeted production 0 0 Total direct labor hours needed Budgeted direct labor costs Prepare the Factory overhead budget for 2019. 40 SPRING MANUFACTURING COMPANY Factory Overhead Budget For the Year 2019 Variable factory overhead: ints Skipped 0 Fixed factory overhead: Total cash fixed factory overhead 0 Total budgeted factory overhead 0 0 Required 1 Required 2 Required 3 Required 4 Required 5 || Required 6 Required 7 Required 8 Prepare the Cost of goods sold and ending fnished gods inventory budgets for 2019. (Round Prepare the Cost of goods sold and ending finished goods inventory budgets for 2019. (Round your intermediate calculations to 2 decimal places.) oints Ending Finished Goods Inventory and Budgeted CGS For the Year 2019 Skipped Total C12 D57 24,000 Sales volume o $ Cost of goods sold Ending finished goods inventory Budgeted ending inventories Prepare the Selling and administrative expense budget, broken down into two components: Selling Expenses, and Administrative Expenses for 2019 40tretive Sxpenses for 20 SPRING MANUFACTURING COMPANY Selling and Administrative Expense Budget For the Year 2019 Selling expenses: ints Skipped Administrative expenses Total selling and administrative expenses Prepare the Budgeted income statement, the last item of which is labeled After-tax Operating Income for 2019. (Round your intermediate calculations to 2 decimal places.) SPRING MANUFACTURING COMPANY Budget Income Statement For the Year 2019 ints Total C12 D57 Skopped