• Analyze budgeted costs for LMN Corporation using the following data:

  Cost Component	Budgeted Cost ($)
  Direct Materials	$25,000
  Direct Labor	$15,000
  Manufacturing Overhead	$10,000
  Selling & Admin Costs	$5,000

  Requirements:

  • Calculate the total budgeted cost.
  • Present the analysis in a detailed table format.
  • Discuss the importance of budgeted costs in financial planning and control.