palactic Incorporated manufa flying drone toys. Sa its for January, ebruary, 632, and 700 respectively. Budgeted production in units for January, February, and March were 615, 618, and 662 respectively. Each unit requires 3 direct labor hours and Galactic's hourly labor rate is $31 per hour. The company's variable overhead is $20.00 per unit produced and its fixed overhead is $7,100 per month. Required: 1. Determine the Galactic's direct labor budget for the first quarter. 2. Determine the Galactic's manufacturing overhead budget for the first quarter.

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Master Budget

A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making. 

Sales Budget and Selling

A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.