I already have Part A done. Please do the three parts of questions listed. Thank you!!

Fillmore Company has developed the following standards related to the production of their finished units: Direct Materials (7 pounds per unit @ $9 per pound) Direct Labor (6 hours per unit @ $18 per direct labor hour) Variable Overhead (5 machine hours @ $8 per machine hour) Fixed overhead costs are estimated at $373,125 per quarter. Selling and administrative costs are expected to be $3 per unit variable and $410,000 fixed per quarter. The expected selling price is $300 per unit. The following sales forecast is available for the year 2023: 1st Quarter 11,000 units; 2nd Quarter 12,000 units; 3rd Quarter 14,000 units; and the 4th Quarter 13,000 units. The expected sales in the 1st Quarter of the year 2024 are 10,000 units. Management policy is to maintain a finished goods inventory equal to 25% of the next quarter's sales and a raw materials inventory equal to 20% of the next quarter's material production requirements. The beginning inventories of the 1st quarter of the year 2023 are expected to meet these same requirements, REQUIRED: Part A In the attached workpaper #1: 1. Prepare a production budget, by quarters for 2023. (12 pts) 2. Prepare a direct materials budget for the first TWO quarters of 2023. (12 pts) 1. 2. Prepare a production budget by quarters for the year 2023. PRODUCTION BUDGET Unit Sales Plus: Ending FG Total Units Needed Less: Beginning FG Units to be produced Units to be Produced x DM Quantity Standard Total DM Required for Prod Plus: Ending RM Invn Total DM Needed Quarter 1 Less: Beg RM Invn DM Purchases Required x DM Price Standard DM Purchases Cost 11,000 3,000 14,000 2,750 11,250 $ $ 11,250 7 Prepare a direct materials purchase budget for the first TWO quarters of the year 2023 only. DIRECT MATERIALS PURCHASE BUDGET Quarter 1 78,750 17,500 96,250 15,750 80,500 Quarter 2 12,000 3,500 15,500 3,000 12,500 9.00 $ 724,500 $ Quarter 2 12,500 7 Quarter 3 87,500 19,250 106,750 17,500 89,250 9.00 803,250 14,000 3,250 17,250 3,500 13,750 Quarter 3 13,750 7 Quarter 4 96,250 13,000 2,500 15,500 3,250 12,250 Quarter 4 Total 50,000 12,250 62,250 12,500 49,750 Total 1. What is the budgeted annual production for the year 2023? (1 pt) 2. What are the budgeted annual machine hours needed for production for the year 2023? (1 pt) 3. What are the budgeted annual fixed overhead costs for the year 2023? (1 pt) 4. Based on an activity measure of machine hours, what is the pre-determined fixed overhead rate for the year 2023? (2 pts) 5. What is the total expected cost to produce one finished unit? (4 pts) Part C Compute the following amounts for the FIRST Quarter of 2023 only: (2 pts each) 1. What is total budgeted direct labor cost? 2. What is total budgeted variable overhead cost? 3. What is total budgeted fixed overhead cost? 4. What amount of fixed overhead cost will be applied to production? 5. What are total budgeted dollar sales? 6. What is total budgeted cost of goods sold? 7. What are the total budgeted selling and administrative costs? 8. What is the budgeted net income? 9. What is the budgeted ending balance (in dollars) of the raw materials inventory? 10. What is the budgeted ending balance (in dollars) of the finished goods inventory? Part D 1. What amount of fixed overhead cost will be applied to production for the year 2023? (2 pts)