Q1. Prepare a Flexible budget for overheads on the basis of the following data. Ascertain the overhead rates at 70% and 80% capacity. Variable Overheads ( 60% capacity) Indirect Material = Rs. 6,000 Labour = Rs. 18,000 Semi-variable overheads: Electricity (40% fixed )= Rs. 40,000 Repairs (80% fixed )= Rs. 2,400 Fixed Overheads: Depreciation = Rs. 16,500 Insurance = Rs. 4,500 Salaries = Rs. 20,000 Estimated Labour Hours =15,000 hrs