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

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.

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 [0 RM 2 0 4 pounds loints RM 3 2 pounds 1 pound Direct labor 2 hours 3 hours Product information: Sales price S 170 $ 200 [E Sales (units) 12,000 9,000 References Estimated beginning inventory (units) 410 110 DeSired ending inventory (units) 300 200 Direct Materials Information RMl RMZ R143 Cost per pound $ 2 $ 2.50 $ 0.50 Estimated beginning inventory in pounds 2,900 1,400 700 Desired ending inventory in pounds 3,900 1,500 1,800 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 rm determines the overhead application rate for the year based on budgeted direct labor hours for the year. The rm maintains negligible WorkinProcess Inventory and expects the cost per unit for both beginning and ending inventories of finished products to be identical. Factory Overhead Information Indirect materialsvariable $ 1 0 , 000 Miscellaneous supplies and toolsvariable 4 , 500 Indirect laborvariable 45 , 000 Supervisionfixed 17 0 , 000 Payroll taxes and fringe benefitsvariable 200 , 000 Maintenance costsfixed 25 , 000 Maintenance costsvariable 1 0 , 130 Depreciationfixed 7 1 , 330 Heat, light , and powerfixed 4 3 , 470 Heat, light , and powervariable 1 0 , 000 Total $ 539,430 Selling and Administrative Expense Information Advertising $ 63,000 Sales salaries 160,000 Travel and entertainment 6 3 , 000 Depreciationwarehouse 5 , 000 Office salaries 61,000 Executive salaries 260,000 Supplies 4 , 000 Depreciationoffice 5 , 900 Total $ 621,900 The effective income tax rate for the company is 50%. Required: 4 n...~.'...A 41.... calm. k-Ir'rups' a... anon l H H H H E ___________________________ H H l Prepare the Cost of goods sold and ending finished goods inventory budgets for 2022. (Round your intermediate calculations to 2 decimal places.) Sales volume Budgeted ending inventories 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 2022. (Round your intermediate calculations to 2 decimal places.)