Question: I specifically need 6-8 but it would help if you provided everything so I can fact check, thank you. Spring Manufacturing Company makes two components

I specifically need 6-8 but it would help if you provided everything so I can fact check, thank you.

Spring Manufacturing Company makes two components identified as C12 and D57. Selected budgetary data for 2022 follow:

Finished Components
C12 D57
Requirements for each finished component:
RM 1 10 pounds 8 pounds
RM 2 0 4 pounds
RM 3 2 pounds 1 pound
Direct labor 2 hours 3 hours
Product information:
Sales price $ 190 $ 240
Sales (units) 12,000 9,000
Estimated beginning inventory (units) 350 160
Desired ending inventory (units) 300 200

Direct Materials Information
RM1 RM2 RM3
Cost per pound $ 4 $ 3.50 $ 0.50
Estimated beginning inventory in pounds 2,700 1,800 1,500
Desired ending inventory in pounds 4,200 800 1,700

The firm expects the average wage rate to be $25 per hour in 2022. 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.

Factory Overhead Information
Indirect materialsvariable $ 11,000
Miscellaneous supplies and toolsvariable 5,300
Indirect laborvariable 41,000
Supervisionfixed 150,000
Payroll taxes and fringe benefitsvariable 300,000
Maintenance costsfixed 16,000
Maintenance costsvariable 10,080
Depreciationfixed 71,370
Heat, light, and powerfixed 43,370
Heat, light, and powervariable 11,000
Total $ 659,120

Selling and Administrative Expense Information
Advertising $ 58,000
Sales salaries 220,000
Travel and entertainment 64,000
Depreciationwarehouse 5,000
Office salaries 63,000
Executive salaries 230,000
Supplies 4,100
Depreciationoffice 6,000
Total $ 650,100

The effective income tax rate for the company is 30%.

Required:

1. Prepare the Sales budget for 2022.

2. Prepare the Production budget for 2022.

3. Prepare the Direct materials purchases budget (units and dollars) for 2022.

4. Prepare the Direct labor budget for 2022.

5. Prepare the Factory overhead budget for 2022.

6. Prepare the Cost of goods sold and ending finished goods inventory budgets for 2022.

7. Prepare the Selling and administrative expense budget, broken down into two components: Selling Expenses and Administrative Expenses for 2022.

8. Prepare the Budgeted income statement, the last item of which is labeled After-tax Operating Income for 2022.

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