Spring Manufacturing Company makes two components identified as C12 and D57. Selected budgetary data for 2022 follow: Finished Cogonents C12 D57 Requirements for each finished component: RM 1 10 pounds 8 pounds RM 2 6 4 pounds RM 3 2 pounds 1 pound Direct labor 2 hours 3 hours Product information: Sales price $ 186 $ 246 Sales (units) 12,606 9,006 Estimated beginning inventory (units) 450 166 Desired ending inventory (units) 366 266 Direct Materials Information IlHl RM2 RIB Cost per pound 5 2 $ 1.56 $ 6.50 Estimated beginning inventory in pounds 2,966 2,666 200 Desired ending inventory in pounds 3,866 1,166 1,966 The firm expects the average wage rate to be $25 per hour in 2022. 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 rm maintains negligible WorkinProcess Inventory and expects the cost per unit for both beginning and ending inventories of finished products to be identical. Factory Overhead Information Indirect materialsvariable $ 16,606 Miscellaneous supplies and toolsvariable 5,166 Indirect laborvariable 42,606 Supe rvis ionfixed 166, 606 Payroll taxes and fringe benefitsvariable 226,606 Maintenance costsfixed 12,666 Maintenance costsvariable 16,646 Depreciationfixed 71,316 Heat, light, and powerfixed 43,450 Heat, light, and powervariable 9,666 Total 5 5373903 Sel ling and Administrative Expense Information Advertising 5 57,606 Sales salaries 226,600 Travel and entertainment 63,666 Depreciationwarehouse 4,866 Office salaries 61,600 Executive salaries 266,600 Supplies 3,?66 Depreciationoffice 6,606 Total $ 6?5, 566 Prepare the Sales budget for 2022. SPRING MANUFACTURING COMPANY Sales Budget For the Year 2022 C12 D57 Total Sales (in units) Selling price per unit Total sales revenuePrepare the Production budget for 2022. SPRING MANUFACTURING COMPANY Production Budget For the Year 2022 C12 D57 Budgeted sales (in units) Total units needed Budgeted production (in units)Prepare the Direct materials purchases budget (units and dollars) for 2022. (Round "Cost per pound" to 2 decimal places.)SPRING MANUFACTURING COMPANY Direct Materials Purchases Budget (units and dollars) For the Year 2022 C12 D57 Total Raw material (RM) 1: Budgeted production RM 1 needed for production Total RM 1 needed (Ibs.) Required purchases of RM 1 (lbs.) 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 (lbs.) Budgeted purchases, RM 2 Raw material (RM) 3: Budgeted production RM 3 needed for production Total RM 3 needed (Ibs.) Required purchases of RM 3 (lbs.) Budgeted purchases, RM 3Prepare the Direct labor budget for 2022. SPRING MANUFACTURING COMPANY Direct Labor Budget For the Year 2022 C12 D57 Total Budgeted production Total direct labor hours needed Budgeted direct labor costsPrepare the Factory overhead budget for 2022. SPRING MANUFACTURING COMPANY Factory Overhead Budget For the Year 2022 Variable factory overhead: Fixed factory overhead: Total cash fixed factory overhead Total budgeted factory overheadPrepare the Cost of goods sold and ending finished goods inventory budgets for 2022. to 2 decimal places.) SPRING MANUFACTURING COMPANY Ending Finished Goods Inventory and Budgeted CGS For the Year 2022 C12 D57 Total Sales volume 21,000 Cost of goods sold Ending finished goods inventory Budgeted ending inventories...................... H Prepare the Selling and administrative expense budget, broken down into two components: Selling Expenses and Administrative Expenses for 2(122. Selling expenses: __ Administrative expenses: Total selling and administrative expenses Prepare the Budgeted income statement, the last item of which is labeled After-tax Operating Income for 2022. intermediate calculations to 2 decimal places.) SPRING MANUFACTURING COMPANY Budget Income Statement For the Year 2022 C12 D57 Total