1 - Budgets Linh Do Chocolate Cocoa makes and sells chocolate bars. On 31 December 2021 the company had 1,000 chocolate bars in inventory. The company expects the following sales activity for the first quarter of 2022 January 5500 units/bars February 6800 units/bars March 7500 units/bars Each chocolate bar sells for $8.00 Sales for both April and May are expected to be 8,500 units each. The company's policy is to maintain a finished goods inventory equal to 10 per cent of next month's projected sales. Required: i. ii. Prepare a sale budget for chocolate bars for the first quarter of 2022 Prepare a production budget for chocolate bars for the first quarter of 2022 (Tables for budget are provided on next page) Linh Do Chocolate Cocoa Sales Budget Quarter ending 31 March January February Linh Do Chocolate Cocoa Production Budget Quarter ending 31 March January February March Total March Total