Assignment Open Assignment PURL SCHEEN Problem 23-1A Cook Farm Supply Company manufactures and sells a pesticide called Snare. The following data are available for preparing budgets for Snare Sales: quarter 1, 28,300 bags; quarter 2, 43,800 bags. Selling price is $61 per bag. 3. Desired inventory levels: ObjectivS 18,100 12,100 9,30010,50013,100 14,200 20,10025,100 8,500 Snare (bags) Gumm (pounds) e expenses are expected to be 15% of sales plus $177,000 per quarter. 6 Interest expense is $100,000 metaxes are expected to be 0% of income before income taxes smeest shows e the direct matenes bude, fornm she manufacturing overhead budget shows expected costs to be 125% of direct labor cost, and (2) Your assistant has prepared two budgets: (1) the purchases to be $301,000 in quarter 1 and $427,500 in quarter 2 Do not prepare the manufacturing overhead budget or the direct materals budget for farr.)