I need help completing requirements #6,7, & 8

Spring Manufacturing Company makes two components identified as C12 and D57. Selected budgetary data for 2019 follow: Finished Components c12 D57 10 pounds 2 pounds 2 hours 8 pounds 4 pounds 1 pound 3 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) $ 180 12,000 370 300 $ 190 12,000 140 200 Direct Materials Information RM1RM2 RM3 6 $ 3.50 $ 0.50 3,000 1,300 1,000 3,600 900 1,800 $ Cost per pound Estimated beginning inventory in pounds Desired ending inventory in pounds The firm expects the average wage rate to be $25 per hour in 2019. 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 $ 7,000 5,100 43,000 80,000 200,000 23,000 10,070 71,350 43,410 16,000 $ 498,930 Advertising Sales salaries Travel and entertainment Depreciation-warehouse Office salaries Executive salaries Supplies Depreciation-office Total Selling and Administrative Expense Information $ 62,000 150,000 63,000 4,600 55,000 250,000 4,500 6,000 $ 595, 100 The effective income tax rate for the company is 30%. Required: 1. Prepare the Sales budget for 2019. 2. Prepare the Production budget for 2019. 3. Prepare the Direct materials purchases budget (units and dollars) for 2019. 4. Prepare the Direct labor budget for 2019. 5. Prepare the Factory overhead budget for 2019. 6. Prepare the cost of goods sold and ending finished goods inventory budgets for 2019. 7. Prepare the Selling and administrative expense budget, broken down into two components: Selling Expenses, and Administrative Expenses for 2019. 8. Prepare the Budgeted income statement, the last item of which is labeled After-tax Operating Income for 2019. Prepare the Sales budget for 2019. SPRING MANUFACTURING COMPANY Sales Budget For the Year 2019 C12 D 57 Sales (in units) 12,000 12,000 Selling price per unit $ 180 $ 190 Total sales revenue $ 2,160,000 $ 2,280,000 Total $ 4,440,000 SPRING MANUFACTURING COMPANY Production Budget For the Year 2019 C12D57 Budgeted sales (in units) 12,000 12,000 Add: Desired finished goods ending inventory 200 Total units needed 12,300 12,200 Less: Beginning finished goods inventory 140 Budgeted production (in units) 11,930 12,060 3001 370 Total Direct Materials Purchases Budget (units and dollars) For the Year 2019 C12 D 57 Raw material (RM) 1: Budgeted production 11,930 12,060 Pounds per unit 1018 RM 1 needed for production 119,300 96,480 Add: Desired ending inventory (lbs.) Total RM 1 needed (lbs.) Less: Beginning inventory (lbs.) Required purchases of RM 1 (lbs.) Cost per pound Budgeted purchases, RM 1 215,780 3,600 219,380 (3,000) 216,380 6.00 1,298,280 $ $ | 11,930 0 0 12,060 4 48,240| Raw material (RM) 2: Budgeted production Pounds per unit RM 2 needed for production Add: Desired ending inventory (lbs.) Total RM 2 needed (lbs.) | Less: Beginning inventory (lbs.) Required purchases of RM 2 (lbs.) Cost per pound Budgeted purchases, RM 2 48,240| 900 49,140 1,300 47,840 3.50 167,440 $ $ 12,060 11,930 2. 23,860 12,060 Raw material (RM) 3: Budgeted production Pounds per unit RM 3 needed for production Add: Desired ending inventory (lbs.) Total RM 3 needed (lbs.) Less: Beginning inventory (lbs.) Required purchases of RM 3 (lbs.) Cost per pound Budgeted purchases, RM 3 35,920 1,800 37,720 1,000 36,720 0.50 18,360 $ $ Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Requi Prepare the Direct labor budget for 2019. Total SPRING MANUFACTURING COMPANY Direct Labor Budget For the Year 2019 C12 D Budgeted production 11,930 Direct labor hours per unit 21 Total direct labor hours needed 23,860 Hourly wage rate Budgeted direct labor costs 57 12,060 3 36,180 60,0401 25 $ $ 1,501,000 SPRING MANUFACTURING COMPANY Factory Overhead Budget For the Year 2019 Variable factory overhead: Indirect materials $ 7,000 Miscellaneous supplies and tools 5 ,100 Indirect labor 43,000 Payroll taxes and fringe benefits 200,000 Maintenance costs 10,070 Heat, light, and power 16,000 $ 281,170 $ Fixed factory overhead: Supervision Maintenance costs Heat, light, and power 80,000 23,000 43,410 | $ Total cash fixed factory overhead Depreciation 146,410 71,350 $ $ 217,760 498,930 Total budgeted factory overhead Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Prepare the Cost of goods sold and ending finished goods inventory budgets for 20 calculations to 2 decimal places.) SPRING MANUFACTURING COMPANY Ending Finished Goods Inventory and Budgeted CGS For the Year 2019 C12 D57 Sales volume 12,000 12,000 Cost per unit Cost of goods sold $ 0 $ 0 Total 24,000 $ 0 3001 200 Ending finished goods inventory Cost per unit Budgeted ending inventories $ 0 $ Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 Prepare the Selling and administrative expense budget, broken down into two components: Selling Expenses, and Administrative Expenses for 2019. SPRING MANUFACTURING COMPANY Selling and Administrative Expense Budget For the Year 2019 Selling expenses: | Advertising $ 62,000 Sales salaries | 150,000 Travel and entertainment 63,000 Depreciationwarehouse 4,600 $ 279,600 $ Administrative expenses: Office salaries Executive salaries Supplies Depreciation-office 55,000 250,000 4,500 6,000 $ $ 315,500 595,100 Total selling and administrative expenses Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 Prepare the Budgeted income statement, the last item of which is labeled After-tax Operating Income for 2019. (Round your intermediate calculations to 2 decimal places.) D57 2,280,000 T $ otal 4,440,000 SPRING MANUFACTURING COMPANY Budget Income Statement For the Year 2019 C12 Sales $ 2,160,000 $ Cost of goods sold Gross profit $ 2,160,000 $ Selling and administrative expenses Pre-tax operating income Income taxes After-tax operating income 2,280,000 $ $ $ 4,440,000 595,100 3,844,900 $ 3,844,900