Wildhorse Farm Supply Company manufactures and sells a pesticide called Snare. The following data are available for preparing budgets far Sare for the first 2 quarters af 2022. 1 Sales: quarter 1, 28,600 hass: quarter 2,42 800 haes Sclling price is $63 per bag Direct matcriak: rach bag of Snare ruines 5 pounds of Gumm at a cost of $4 per paund and a sounds of Tarrat $150 per pound 2. 3. Desired inventory levels Type of Inventory January April 1 July 1 Snarchags! 8,100 12,100 18,200 Gumpounds) 10,300 13,400 Tarr (pounds! 14,300 20,400 25,200 4 Direct labor: direct labor time is 15 minutes per hag at an hourly rate of $16 per hour. Selling and administrative expenses are expected to be 15% of sales plus $177,000 per quarter. 5. 6. Interest Expense is $100.000 7. Income taxes are expected to be 20% of income before income taxes. Your assistant has prepared two budgets: (1) the manufacturing overhead budpet shows expected costs to be 125% of direct labor cast, and (21 the direct materials budget for Tarr shows the cost of Tarr purchases to be $299,000 in quarter 1 and $427.500 in cuarter 2. 2 (Note: Do not prepare the manufacturing overhead budget or the direct materials budget for Tarr.) a) Prepare the sales budget WILDHORSE FARM SUPPLY COMPANY Sales Budget Quarter Six Months 1 2 $ $ $ $ $ $ Prepare the production budget WILDHORSE FARM SUPPLY COMPANY Production Budget Quarter 1 2 e Textbook and Media Sarvar later Attempts: O af 5 used Submit Answer Prepare the production budget. WILDHORSE FARM SUPPLY COMPANY Production Budget Quarter Six Months 1 2