(0) It is the company's policy to have stock on hand at the end of each quarter equaling fo 10% of budgeted sales for the next quarter () Budgeted sales for the first quarter of 2019 were: 7,000 units for Vita120 and 5,800 units for Vita220. (in) During 2016, the company sold one unit of Vita120 for $600 and one unit of Vita220 for $700. (iv)Opening inventory for the first quarter of 2018 was 320 units of Vita120 and 420 units of Vita220. (v) To make one unit of Vita120 four (4) units of raw material B20 is required while five (5) units of raw material B12 is required to make one unit of Vita220. Required: (a) Prepare the sales budget for 2018. (b) Prepare the production budget for 2018 (c) Prepare the direct raw material budget for 2018 (6 marks) (10 marks) (5 marks) (2 marks) (d) Explain what is meant by a limiting budget factor. (e) Describe two limiting factors that could influence the achievement of Joel Brown and Associates profit objectives for 2018. (4 marks) (f) Why must the information produced by the management accountant be concerned with the future as well as to reflect economic reality? (3 marks)