Question 3 {7 marks) Relevant data from Picta Company's operating budgets are presented below. The company's nancial year ends on 30 June. Sales Direct material purchases Direct labor Manufacturing overhead Selling and ad ministration expenses Depreciation included in selling and ad ministration expenses Collection from customers Cash payments for purchases Quarter 1 $248,470 120,295 76,553 26,000 33,500 2,000 230,524 114,345 Quarter 2 $251,539 128,832 74,289 24,400 33,500 2,500 220,116 118,346