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Relevant data from Picta Company's operating budgets are presented below. The company's financial year ends on 30 June. Quarter 1 Quarter 2 Sales $248,470 $251,539

Relevant data from Picta Company's operating budgets are presented below. The company's financial year ends on 30 June.

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Quarter 1 Quarter 2 Sales $248,470 $251,539 Direct material purchases 120,295 128,832 Direct labor 76,553 74,289 Manufacturing overhead 26,000 24,400 Selling and administration 33,500 33,500 expenses Depreciation included in selling and administration expenses 2,000 2,500 Collection from customers 230,524 220,116 Cash payments for purchases 114,345 118,346

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