The materials standard indicates that each tire will need 3 pounds of rubber at a cost of $2.50 per pound. For 2019, Raw Materials Inventory is expected to be 20% of next quarter's Raw Materials requirements. Raw Materials Inventory on 12/31/2018 is expected to be 1200 pounds of rubber. .Each tire produced requires 0.75 hours of Direct Labor at a cost of $14.00 per hour. Prepare the Direct Labor budget for the first two quarters in the template below. Part I. Module 10. Operating Budgets Operating Budgets. Complete the selected components of Bob's Tires master budget for 2019. Each section may n on information calculated in previous sections. A. Bob's Tires expects to sell 2,000 tires in the first quarter, 2,500 tires in the second quarter, and 2,800 tires i the third quarter of 2019. The sales price per tire is $80.00. Prepare the sales budget for the first two quarters in the space below. Sccond quarler 2.500 first qutut er total odgeted twes to 2,000.50 4,500 udoeted tires to be 2.60 Soldl o.CU ales price per tire 0.0 totl sales 6,000 Finished Goods Inventory on 12/31/2018 is expected to be 800 tires. Throughout 2019, the desired Ending Inventory at the end of each quarter is 40% of next quarter's sales. Prepare the production budgetfor the first two quarters in the template below. B. second irs rirle 2,000 total 4,500 2,120 ,2o oO udgetedl tires to be 1.500 1,120 3, G10,10 Sold tos desived tires in Ending inv. (40) 1,000 totol tives needed 3,000 essbea inv. ,000 s. 810 2,200 2,G20 udgetedtires to prodoce