Test III=40% A. Betz Company's sales budget shows the following projections for the year ending Dec. 31, 2021: Quarter No. of Units First 60,000 Second 80,000 Third 45,000 Fourth 55,000 Inventory at Dec. 31 of last year was budgeted at 18,000 units. The quantity of finished goods inventory at the end of each quarter should equal 30% of the next quarter's budgeted sales of units. REQUIRED: 1. Prepare the production budget for the first and second quarters separately. Include a total column. B. The Charito Company is planning an overhead budget cost for May and June, 2021. Past cost studies indicates that costs have followed behavior patterns as given below: Indirect materials Heat, light & power Repairs & maintenance Lubrication Variable rate per hour P0.90 1.20 4.60 0.50 In addition, management has estimated fixed factory overhead as follows per month: Supervision Indirect labor Heat, light and power Repairs & maintenance Taxes & insurance P44,000 36,000 14,500 17,200 9,000 During May and June, 2021, the company plans to manufacture 150,000 units of product. Products are produced a the rate of 6 units per hour. Normal plant capacity is 15,000 hours per month REQUIRED: 1. Prepare the factory overhead budget for May & June, 2021. Separate the fixed from the variable cost components. 2. Determine the unused normal capacity, if any