Manufacturing Overhead Variable overhead costs are based on labor hours, listed below: Indirect materials 50 per labor hour Indirect labor 75 per labor hour Utilities Maintenance Foxed overhead costs Rent Salaries Depreciation Property taxes Insurance Selling and Administrative Variable selling and administrative cost are budgeted per sales unit: Shipping expense $.75 per sales unit Packaging expense $.50 per sales unit Fixed selling and administrative costs are budgeted for the month, listed below: Advertising $2,000 a month Insurance $700 a month $4,000 a month $800 a month Office Salaries Depreciation Other Information The Cash balance at the end of 2023, is $80,750, and Bloomfield would like to maintain a cash balance of at least $200,000 at the end of each quarter. All Direct Labor, Manufacturing Overhead and Selling & Administrative costs are paid in the quarter incurred. . 65 per labor hour 35 per labor hour are budgeted for the month, listed below: $3,000 per month $11,000 per month $4,800 per month $ 675 per month $ 500 per month . . Bloomfield has an open line of credit with the bank, and can borrow in any quarter they don't meet the minimum cash balance of $55,000. Borrowed funds accrue 3% interest for the quarter and are paid in the first quarter cash is available along with interest. Bloomfield collects interest of $3,000 from a note receivable each quarter. Bloomfield plans to purchase a $50,000 equipment in cash in Quarter 3. Bloomfield pays an estimated income tax at $5,000 each quarter. Manufacturing Overhead Budget For the Year Ending Qari Qtr2 Selling and Administrative Expense Budget For the Year Ending Qtr1 Qtr3 Qtr2 Otr3 Qtr4 Qtr4 Total Total