Cook Farm Supply Company manufactures and sells a pesticide called Snare. The following data are available for preparing budgets for Snare for the first 2 quarters of 2020, Sales: quarter 1, 28,200 baes, quarter 2,42,400 bags. Selling price is $63 per bag Direct materials: each bag of Snare requires 4 pounds of Gumm at a cost of $3.80 per pound and 6 pounds of Tarrat $1.75 per pound Desired inventory levels 1 2 3. Type of Inventory Snare (bags) Gumm (pounds) Tarr (pounds) January 1 8,200 9.100 14,500 April 1 12,200 10,400 20,400 July 1 18.100 13,300 25 200 4 5 6 7 Direct labor direct labor time is 15 minutes per bag at an hourly rate of $26 per hour. Selling and administrative expenses are expected to be 15% of sales plus $180,000 per quarter. Interest expense is $100,000. Income taxes are expected to be 30% of income before income taxes. Your assistant has prepared two budgets: (1) the manufacturing overhead budget shows expected costs to be 125% of direct labor cost, and (2) the direct materials budget for Tarr shows the cost of Tarr purchases to be $301.000 in quarter 1 and $422.500 in quarter 2. (Note: Do not prepare the manufacturing overhead budget or the direct materials budget for Tarr) NWP meet per be Fidelity Investments Convert MP3 from... Aurora University Microsoft Office Ho... MAU website Question 1 of 1 $ $ $ Food Expenses Total Selling and Administrative Expenses $ $ $ e Textbook and Media