this is all a one question assignment that requires this budgeted income to be completed?

Project Two: Master Budget Question 1 of 1 -11 View Policies Current Attempt in Progress 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, 29.400 bags; quarter 2, 42,600 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 Tan at $1.75 per pound. 3. Desired inventory levels: Type of Inventory January 1 April 1 July 1 Snare (bags) 8,100 12,200 18.100 Gumm. (pounds) 9,500 10,100 13,200 Tart (pounds) 14,200 20,500 25,400 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 $179,000 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 Tau shows the cost of Tau purchases to be $301,000 in quarter 1 and $426,500 in quarter 2. (Note: Do not prepare the manufacturing overhead budget or the direct materials budget for Tau) Prepare the sales budget. Six Months COOK FARM SUPPLY COMPANY Sales Budget choose the accounting period Quarter 1 Expe cted enter a number of units enter a number of units unit sales Unit sellin Senter a dollar Senter a dollar amount amount price Total Senter a total dollar Senter a total dollar enter a number of units Senter a dollar amount Senter a total dollar sales amount amount amount Prepare the production budget COOK FARM SUPPLY COMPANY Production Budget choose the accounting period Quarter 1 Six Months 2 enter enter a number of units select an opening production budget item number of enter entera number of select between addition and deduction select a production budget stem number of units select a summarizing line for the first part enter a total number of units for the enter a total number of units for the first part first part enter entera select between addition and deduction select a production budget item number of units number of units 2 select a closing production budget item enter a total number of units enter a total number of units enter a total number of units eTextbook and Media Prepare the direct materials budget. (Round Cost per pound answers to 2 decimal places, e.g. 52.70.) COOK FARM SUPPLY COMPANY Direct Materials Budget --Gumm choose the accounting period Quarter Six Months 2 enter a number. enter a number. select an opening direct materials budget item of units of units select an item enter the amount of pounds enter the amount of pounds enter a total amount of pounds for the enter a total amount of pounds for the select a summarizing line for the first part first part first part select between addition and deduction enter the amount of pounds enter the amount of pounds select an item select a summarizing line for the second part enter a total amount of pounds for the enter a total amount of pounds for the second part second part select between addition and deduction enter the amount of pounds enter the amount of pounds - select an item select a summarizing line for the third part enter a total amount of pounds for the enter a total amount of pounds for the third part third part select an item Senter a dollar amount $enter a dollar amount I select a closing direct materials budget item Senter a total dollar amount Senter a total dollar amount Senter a total dollar amount Prepare the direct labor budget. (Enter Direct labor time per unit in proportion to hours, e.g. for 45 minutes the proportion will be 0.75.) - COOK FARM SUPPLY COMPANY Direct Labor Budget choose the accounting period Quarter Six Months enter o.number enter number. select an opening labor budget item of units of units select a labor budget item enter a number. of hours enter a number of hours select a summarizing line for the first part enter a total number of hours for the first part enter a total number of hours for the first part select a labor budget item Senter a dollar amount Senter a dollar amount select a closing labor budget item Senter a total dollar amount Senter a total dollar amount $enter a total dollar amount Prepare the selling and administrative expense budget. - COOK FARM SUPPLY COMPANY Selling and Administrative Expense Budget choose the accounting period Quarter 1 2 select an enter a total enter a total item number of units number of units Six Months enter a total number of units I I select an item Senter a dollar amount Senter a dollar amount Senter a dollar amount select an item enter a dollar amount enter a dollar amount enter a dollar amount select a closing budget item $enter a total dollar amount Senter a total dollar amount 14 Senter a total dollar amount eTextbook and Media Prepare the budgeted multiple-step income statement for the first 6 months. (Round intermediate calculations to 2 decimal places and final answer to 0 decimal places, e.g. 1,255.) COOK FARM SUPPLY COMPANY Budgeted Income Statement choose the accounting period select an income statement item Senter a dollar amount select an income statement item enter a dollar amount select a summarizing line for the first part enter a total amount for the first part select an income statement item enter a dollar amount select a summarizing line for the second part enter a total amount for the second part select an income statement item enter a dollar amount enter a total amount for the select a summarizing line for the third part third part enter a dollar amount select an income statement item Senter a total net income select a closing name for the budgeted income statement or loss amount eTextbook and Media