1) From the following details provided by ABC, Inc., prepare the manufacturing overhead budget for the year. Also, calculate the predetermined overhead allocation rate, using direct labor hours as the allocation base. Budgeted production units Variable overhead cost per unit Fixed overhead costs: Depreciation Rent Direct Labor Hours First Second Third Fourth Quarter Quarter Quarter Quarter 15,000 18,000 21,000 $45 $45 24,000 $45 $45 $3,000 $3,000 $3,000 $5,000 $5,750 $6,250 $7,250 12,500 14,500 17,200 12,800 $3,000 "VOH-Variable Manufacturing Overhead "FOH-Fixed Manufacturing Overhead 2) ABC Manufacturing Company's budgeted income statement includes the following data: Apr May Jun Mar Sales $320,000 $340,000 $360,000 $350,000 Commission expense: 15% of sales 48,000 51,000 $4,000 57,000 Salaries expense 50,000 50,000 50,000 50,000 Miscellaneous expense: 4% of sales 12,800 13,600 14,400 15,200 Rent expense 4,000 4,000 4,000 4,000 Jities expense 2,000 2,000 2,000 2,000 Insurance expense 2,100 2,100 2,100 2,100 Depreciation expense 5,000 5,000 5,000 5,000 The budget assumes that 60% of commission expenses are paid in the month in which they are incurred and the remaining 40% are paid one month later. In addition, 50% of salaries expenses are paid in the month in which they are incurred, and the remaining 50% are paid one month later. Miscellaneous expenses, rent expense, and utility expenses are assumed to be paid in the same month in which they are incurred Insurance was prepaid for the year on January 1. Prepare a schedule of cash payments for selling and administrative expenses for the quarter ending June 30.