Kool Kitchens specialises in cutting and preparing granite panels for customised kitchen cabinetry. This requires highly specialised laser cutting and polishing equipment. Consequently, Kool Kitchens allocates variable factory overheads to inventory on the basis of machine hours at a rate of $24 per hour. Total overhead budgeted for the year is $838 500. Of this, $550 000 is considered to be fixed overhead. Machine hours for each quarter are anticipated to be 3 800, 2 825, 5 600 and 4 800 respectively.

Required Prepare the factory overhead budget for the year.