Spring Manufacturing Company makes two components Identified as C12 and D57. Selected budgetary data for 2022 follow: Finished components D57 C12 10 pounds 0 2 pounds 2 hours Requirements for each finished component: RM 1 RM 2 RM 3 Direct labor Product information: Sales price Sales (units) Estimated beginning inventory (units) Desired ending inventory (units) 8 pounds 4 pounds 1 pound 3 hours $ 200 12,000 410 300 $ 190 10,000 189 202 Direct Materials Information RM1 RM2 RM3 cost per pound $6 $ 1.50 $ 8.50 Estimated beginning inventory in pounds 3,400 1,600 9ee Desired ending inventory in pounds 4,000 80e 1,500 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 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. 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 Total Factory Overhead Information $ 11,000 5,500 43,000 170,000 210,880 19,000 10,040 71,280 43,47 11,000 $ 594,290 Advertising Sales salaries Travel and entertainment Depreciation-warehouse Office salaries Executive salaries Supplies Depreciation-office Total Selling and Administrative Expense Information $ 60,000 180,000 65,000 5,300 56,00 260,000 3,600 5,500 $ 635,400 The effective Income tax rate for the company is 30% Required: 1. Prepare the Sales budget for 2022. 2. Prepare the Production budget for 2022. 3. Prepare the Direct materials purchases budget (units and dollars) for 2022 4. Prepare the Direct labor budget for 2022. 5. Prepare the Factory overhead budget for 2022. 6. Prepare the Cost of goods sold and ending finished goods inventory budgets for 2022. 7. Prepare the Selling and administrative expense budget, broken down into two components: Selling Expenses and Administrative Expenses for 2022 8. Prepare the Budgeted Income statement, the last item of which is labeled After-tax Operating Income for 2022. 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 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 revenue Recue Required 2 >