Question 6 View Policies Current Attempt in Progress ort Cook Farm Supply Company manufactures and sells a pesticide called Snare. The following data are available for preparing budgets for Snare for the first 2 quarters of 2020 1. Sales: quarter 1, 28,000 bags quarter 2,43,400 bags. Selling price is $63 per bag. 2 Direct materials: each bag of Snare requires 4 pounds of Gumm at a cost of $3.80 per pound and 6 pounds of Tarrat $1.50 per pound. 3. Desired inventory levels: Type of Inventory January 1 April 1 July 1 Snare (bags) 8,400 12,500 18.400 Gumm (pounds) 9.500 10.300 13,400 Tarr (pounds) 14.500 20.100 25,100 4. Direct labor: direct labor time is 15 minutes per bag at an hourly rate of $16 per hour. 5. Selling and administrative expenses are expected to be 15% of sales plus $177.000 per quarter. 6. Interest expense is $100,000. 7. Income taxes are expected to be 30% of income before income taxes. Your assistant has prepared two budgets: (1) the manufacturing overhead budget shows expected costs to be 125% of direct labor cost, and (2) the direct materials budget for Tarr shows the cost of Tarr purchases to be $300,000 in quarter 1 and $424.500 in quarter 2 (Note: Do not prepare the manufacturing overhead budget or the direct materials budget for Tarr Show WG-20101023-Wipe - MG-20181215-W...is COOK FARM SUPPLY COMPANY Sales Budget Quarter Six Months Prepare the production budget. COOK FARM SUPPLY COMPANY Production Budget Quarter Six Months Prepare the selling and administrative expense budget. COOK FARM SUPPLY COMPANY Selling and Administrative Expense Budget Quarter Six 2 Months e Textbook and Media Plepale uie vuugele multiple-Step Income statement for the first 6 months. (Round inte decimal places, eg. 1,255.) COOK FARM SUPPLY COMPANY Budgeted Income Statement e Textbook and Media