Ketton Ltd is in the process of preparing direct labour and factory overhead budgets for the year ending 30 June 2017. Relevant data are set out below:
Production: 21 000, 41 000, 41 500, 51 000 units per quarter
Direct labour: Hourly rate is $18 per hour. Each unit requires 2.5 hours of labour
Factory overhead:
Fixed overhead costs per quarter —
Salaries, $71 500
Depreciation, $31 000
Rent, $60 000
Variable overhead —
Indirect materials, $3.50 per direct labour hour
Indirect labour, $2.60 per direct labour hour
Other, 30c per direct labour hour
Required
A. How to prepare the direct labour budget by quarter for the year ending 30 June 2017.
B. How to prepare the factory overhead budget by quarter for the year ended 30 June 2017.
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