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.

The effective income tax rate for the company is 50%.

Prepare the Factory overhead budget for 2022. SPRING MANUFACTURING COMPANY Factory Overhead Budget For the Year 2022 Variable factory overhead: Fixed factory overhead: Total cash fixed factory overhead Total budgeted factory overheadPrepare the Cost of goods sold and ending finished goods inventory budgets for 2022. to 2 decimal places.) Sales volume Budgeted ending inventories 3 ___________________________ E Prepare the Selling and administrative expense budget, broken down into two components: Selling Expenses and Administrative Expenses for 2022. Total selling and administrative expenses l H .l u u n H I: ___________________________ : 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.)