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Cook Farm Supply Company manufactures and sellis a pesticide called Snare. The following data are...

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Accounting

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Cook Farm Supply Company manufactures and sellis a pesticide called Snare. The following data are available for reparing budgets tor Srsare for the first 2 quarters of 2022. Sales:quarter 1. 40.000 bags: quarter 2,56,000 bags Selling price is $60 per bag Direct materials: each bag of Snare requires a pounds of Gummat a cost of $3,8 per pound and 6 pounds of Tarrat $15 per pound Desired Inventory levels 2 January 1 April 1 July 1 8.000 15,000 18.000 Type of Inventory Snare(bass) Gumm (pounds) Tarr (pounds 9.000 10.000 13.000 14.000 20.000 25.000 4. 5. Direct labor: direct labor time is 15 minutes per bag at an hourly rate of $16 per hour. Selling and administrative expenses are expected to be 15% of sales plus $175,000 per quarter, Interest expense is $100.000 Income taxes are expected to be 20% of income before income taxes 6. 7 Your assistant has prepared two budgets: (1) the manufacturing overhead budget shows expected costs to be 125% of erect laber cost, and (2) the direct materials budget for Tarr shows the cost of Tarr purchases to be $297.000 in quarter 1 and 5439500 in quarter 2 (Note: Do not prepare the manufacturing overhead budget or the direct materials budget for Tare) kindly provide full

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