QUESTION 3: (Budgets) (10 Marks) The accountant at SAC is in the process of compiling the annual budget. She asks you to assist with the labour budget. You gather the following information: Budgeted production units 15,000 Labour hour per unit 3 Number of employees 18 Weekly hours per employee (9 hours per 45 day) Number of weeks per annum Working days per week Number of public holidays falling on 52 5 10 workdays Leave entitlement: 15 workdays per annum per employee. (Excluding any public 15 holidays) Normal rate Overtime rate Efficiency 75 1.5 times normal rate 80% Required: 1. Calculate the labour budget: hours and rand value.