Quarterly general and administrative expenses include $10,000 administrative salaries, rent expense of $6,000 per quarter, insurance expense of $5,000 per quarter, straight line depreciation of $5,000 per quarter, and 1% monthly interest on the $200,000 long-term note payable (12% annually). Income taxes will be assessed at 30%, and are paid in the quarter incurred. Sales Budget Production Budget Direct Mtls Budget Direct Lbr Budget Factory OH Budget Selling Exp Budget Admin Exp Budget Cost of Goods Sold Income Statement Requirement Prepare the Factory Overhead Budget for Harris Inc. The product's manufacturing cost is $211 per unit, including per unit costs of $84 for materials (6 lbs. at $14 per lb.), $96 for direct labor (4 hours x $24 direct labor rate per hour), $19 for variable overhead, and $12 for fixed overhead. Annual fixed overhead consists, incurred evenly throughout the year, consist of depreciation on production equipment, $6,400; factory utilities, $7,900, and other factory overhead of $1,588. Show less Harris Inc. Factory Overhead Budget For the year ended December 31, 2018 First otr. Second Qtr. Third Qtr. 276 296 320 $ 19.00 $ 1900 1900 S 5,244 5624 $ 6080 Fourth Qtr. Total 4321 224 $ 19.00 $ 19.00 $ 8,208 $ 25 156 Budgeted production (units Vanable factory overhead rate Budgeted variable overhead Budgeted fixed overhead Budgeted total overhead 1 of 1 fi