A private company has been granted a license to produce vaccines by the government. The Management Accountant has been working on the budgets using the figures below. Sales Forecast August September 10,000 12,000 November October 20,000 15,000 Selling Price 20 Production Volume Forecast August September 15,200 16,800 October 17,000 November 3,000 Materials Each vaccine requires 25ml of material, which costs 150 per litre (1,000 ml) Opening inventories of material at the start of August are 100 litres The company has a policy of making sure there is sufficient closing inventory to meet production requirement for the following month. Production in November is expected to be 3000 units Labour Number of employees in production department is equal to 10 Standard working day is 8 hours Working days in the week is equal to 5 days Working days in the month is equal to 22 days Basic rate of pay is 18 per hour Overtime is paid at time and a half Each vaccine takes 40 minutes (labour hours) to produce Required Complete the working for the material purchases budget below Complete the working for the labour budget below Material Purchases Budget Enter your values to the nearest whole number with no sign August September October TOTAL Total Volume (in litres) Total Cost Labour Cost Budget Enter your values to the nearest whole number with no sign August September October Basic hours Overtime August September October Total Pay (Basic and Overtime) Labour Cost Budget Enter your values to the nearest whole number with no sign August September October Basic hours Overtime August September October Total Pay (Basic and Overtime) Basic Pay Overtime Pay