actual amounts used for the entire fiscal year: Actual amount of wood purchased and used Actual cost of wood purchased and used Actual amount of direct labor hours Actual cost of direct labor 46,120 bd. ft. $80,028 17,900 $275,550 Within your analysis, make sure to include the following: Create variance reports for Q1, Q2, Q3, and Q4 against the Quarterly Budget. Generate a quarterly budget for the upcoming year that includes sales, production, materials and labor budgets. Assume a 10% increase in sales. Explain how a master budget can be a useful tool in aligning a company's operations to its long-term goals. Discuss how a variance report can be used to direct management toward production issues. Your explanations of master budgets and variance reports should be 500 to 750 words in length. Part #4 Use the following data to generate a quote model for future business. This can be accomplished by performing a high-low or regression analysis to generate an equation relating direct labor hours to product cost: Year Quarter Direct labor hrs. Manufacturing cost 2014 Q1 2,512 $224,950 2014 Q2 2,432 $214,100 2014 Q3 2,645 $226,840 2014 Q4 2,723 $228,760 2015 Q1 2,355 $211,950 Within your analysis, make sure to include the following: Explain how jobs can be estimated by using a quote model based on previous data. Discuss the different methods of cost estimation. Prepare a bid for a job that would require 2,700 direct labor hours. actual amounts used for the entire fiscal year: Actual amount of wood purchased and used Actual cost of wood purchased and used Actual amount of direct labor hours Actual cost of direct labor 46,120 bd. ft. $80,028 17,900 $275,550 Within your analysis, make sure to include the following: Create variance reports for Q1, Q2, Q3, and Q4 against the Quarterly Budget. Generate a quarterly budget for the upcoming year that includes sales, production, materials and labor budgets. Assume a 10% increase in sales. . Explain how a master budget can be a useful tool in aligning a company's operations to its long-term goals. Discuss how a variance report can be used to direct management toward production issues. Your explanations of master budgets and variance reports should be 500 to 750 words in length. Part #4 Use the following data to generate a quote model for future business. This can be accomplished by performing a high-low or regression analysis to generate an equation relating direct labor hours to product cost: Year Quarter Direct labor hrs. Manufacturing cost 2014 Q1 2,512 $224,950 2014 Q2 2,432 $214,100 2014 Q3 2,645 $226,840 2014 Q4 2,723 $228,760 2015 Q1 2,355 $211,950 Within your analysis, make sure to include the following: Explain how jobs can be estimated by using a quote model based on previous data. Discuss the different methods of cost estimation. Prepare a bid for a job that would require 2,700 direct labor hours.