Spring Manufacturing Company makes two components identified as C12 and D57 Selected budgetary data for 2019 follow 40 Finished Componente 057 C12 Requirements for each tinished component RN 1 RM 2 RN 3 Direct labor 10 pounds 8 pounds 4 pounds 1 pound 3 hours 2 pounds 2 hours oints Product information Sales price Sales (units) Estinated beginning inventory (units) Desired ending inventory tunite) 160 12,000 400 300 $ 250 12,000 200 200 S 160 irect Nateri Information Cost per pound 564.50 00 3,500 ,200 s00 4,1001,400 2,000 Deaired ending Laventory in pounds 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 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 $ 15,000 5,400 45,000 120,000 260,000 18,000 10,050 71,340 43,400 11,000 $599,190 5 points Skipped Total Selling and Administrative Expense Information 61,000 240,000 55,000 Advertising Sales salaries Travel and entertainment Depreciation-warehouse office salaries Executive salaries Suppliers Depreciation-office 4,900 60,000 300,000 3, 800 6, 300 Total 731,000 The effective income tax rate for the company is 50%. Prepare the Factory overhead budget for 2019. 40 SPRING MANUFACTURING COMPANY Factory Overhead Budget For the Year 2019 Variable factory overhead 5 points Skipped 0 Fixed factory overhead: Total cash fixed factory overhead Total budgeted factory overhead 40 ResuredResue Required 1 Required 2 Required 3 Required 4 Required 5Required 6 Required 7 Required8 Prepare the Cost of goods sold and ending finished goods inventory budgets for 2019. (Round your intermediate calculations to 2 decimal places.) SPRING MANUFACTURING COMPANY Ending Finished Goods Inventory and Budgeted CGS For the Year 2019 points Skipped C12 Total D57 Sales volume 24,000 Cost of goods sold Ending finished goods inventory Budgeted ending inventories Required 1 Required 2 Required 3 Required 4 Required 5 Required 6Required 7 Required 8 Prepare the Selling and administrative expense budget, broken down into two components: Selling Expenses, and Administrative Expenses for 2019. SPRING MANUFACTURING COMPANY Selling and Administrative Expense Budget For the Year 2019 points Skipped Selling expenses: Administrative expenses: Total selling and administrative expenses