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Urban Gila Cosmetics preparing their budget for the next year. They are a manufacturer, and they are requesting your help to finalize the preparation. Here is a sample of their expected numbers: - Management expects a contribution margin of 40%, based on their production costs. - The budgeted direct materials expense is 35 per unit while a unit manufactured costs 78 in direct labor. We applied a predetermined overhead rate to our actual production of units. That rate is 2$ per unit manufactured. - The level of quarterly production is as follows. Budgeted quantity manufactured was the same as actual manufactured units. 2nd quarter Brd quarter the quarter 150 000,00 125 000,00 Ist quarter 113 000,00 100 000,00 - The sales and research budget are the equivalent of 9% of the quarterly sales. - The fixed administration cost is stable every quarter at 450 000 Urban Gila cosmetics wants you to offer certain precisions on several budgeting aspects. Their questioning is as follows: 1) Please present the budget for the four quarters, including the sales revenues and all subsequent variable and fixed costs 2) Using the total numbers of the year, please calculate the material yield variance because the actual consumed direct materials were 3,508 per unit. Please calculate the overhead efficiency variance since the actual costs overhead cost per unit was 1,758. Please calculate the labor rate variance since actual price for labor was 7,255 per units. Define 3) Discuss the concept of over or under application based on the actual results for overhead

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