Summer Co ("the company") needs your help with preparing their operating budgets for the coming year. They have asked you to focus on their t-shirt product line for the first quarter of 2020. The projected sales for the first quarter of 2020 and the projected beginning and ending inventory balances are as follows: Unit sales are 25,000 for the quarter. Unit sales price is $12 per unit. Number of units in closing inventory on Dec 31, 2019 is 1,000 units. Desired number of units in closing inventory on Mar 31, 2020 is 10% of sales for the quarter. The products are cut and sewn by the company and then university and college crests are added. Each unit requires half an hour of direct labour time and direct labour costs $14 per hour. Each unit is made of 1.5 meters of high quality material which costs $8 per metre. The company's inventory policy is to have 2,500 meters of direct materials in inventory at the end of each quarter. The company's variable overhead rate is $8 per direct labour hour. The company's fixed overhead is budgeted at $2,500 per month. Question 17 (3 points) Assume units to be produced are 100,000. Prepare the overhead budget for the first quarter of 2020. What is the budgeted variable overhead cost for the quarter? A What is the budgeted fixed overhead cost for the quarter? A/ What is the total budgeted overhead cost for the quarter? A/ Question 18 (1 point) Assume units to be produced are 100,000. What are the total budgeted prime costs for the quarter