The following are the datas regarding the budgeted and actual production for 6 months ending 31 Dec. 2019. I Units 40,000 (Budgeted) Units 50,000 (Actual) Material Consumed 45,000 units 1,35,000 55000 units 190,000 Wages at 3 hrs. per unit @ $1.5 per hr. 1,80,000 2,45,000 Variable overhead @ S2 PU 80,000 1,25,000 Fixed overheads 75,000 1,00,000 price. Total 4,70,000 6,60,000 During the budgeted period: (0). Production is expected to go up to 60,000 units (). The prices of materials are expected to increase further in the same manner as they had increased over the budgeted (H). Labor charges are expected to increase by 50 pairs per hour above the actual rate shown above through efficiency is expected to decline by 20% (w). Fixed overheads are expected to increase by 10% Required: Prepare a production budget for the 6 months ending 30th June 2019. Solution Budget Months, Ending Dec. 2019 Actual Months, Ending Dec. 2019 Budget Months, Ending June 2020 Per unit Total Per unit Total Per unit Total Production Level Material Wages Variable Overheads Fix Overheads