Spring Manufacturing Company makes two components identified as C$12$ and D$57.$ Selected budgetary data for $2022$ follow. Spring Manufacturing Company makes two components identified as C$12$ and D$57.$ Selected budgetary data for $2022$ follow: The effective income tax rate for the company is $30\%.$

Required:

Prepare the Sales budget for $2022.$

Prepare the Production budget for $2022.$

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

Prepare the Direct labor budget for $2022.$

Prepare the Factory overhead budget for $2022.$

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

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

Expenses for $2022.$

Prepare the Budgeted income statement, the last item of which is labeled After$-$tax Operating Income for $2022.$ Required $2$

Required $4$ Prepare the Direct labor budget for $2022.$Prepare the Factory overhead budget for $2022.$

$\backslash$table$[[$SPRING MANUFACTURING COMPANY$],[$Factory Overhead Budget$],[$For the Year $2022],[$Variable factory overhead:$],[,,,],[7,,,],[$L$,,,],[,,,],[,,,],[,,,],[$F$,,$$$,0],[$Fixed factory overhead:,,,$],[,,,],[,,,],[,,,],[,,,],[$Total cash fixed factory overhead,$$,,],[,,,],[,,$$$,0],[$Total budgeted factory overhead,,$$,0]]$

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.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.