BUDGET ASSUMPTIONS Production and Sales Budget Information Sales budget for 2022 Production budget for 2022 Production Standards 120,000 units 120,000 units Standard Quantity Direct materials Direct labor Variable manufacturing overhead Budgeted Fixed Manufacturing Overhead Fixed manufacturing overhead budget for 2022 16.2 pounds 6.8 hours 6.8 hours $4,800,000 Standard Price $1.15 per pound $30.00 per hour $6.25 per hour