Managerial Accounting - Assignment 3 Prepare the master budgets for a manufacturing company for the year 2022 using the following data Material per unit: 3Kg Material price: SR 4 Direct labor hours to produce one unit =2 hours The direct labor rate per hour is SR 5 The variable overhead rate per direct Labor hour is SR 4 The quarterly fixed overhead cost is estimated at SR 12,000 (includes SR 2000 depreciation) The cost of package is SR 2 per unit and the sales commission is 5% of the sales revenue. The quarterly fixed marketing cost is SR 20,000 (includes SR 5000 depreciation) The quarterly administrative expense is SR 30,000 (includes SR 5000 depreciation). The cash sales is 40% of sales and the credit sales is 60% to collected next quarter. 70% of purchases is cash and 30% is on credit to collected next quarter (the cost of purchases for the fourth quarter 2021 was SA 60,000) The company intend to has minimum cash balance at the end of each quarter SA 10,000, in case of the end cash balance is less than SA10,000, the company will borrow by annual interest rate 12%, and repay if there is sufficient cash