1. Define budgeting and THREE (3) purposes of budgeting. 2. State THREE (3) functions of budget committee. 3. Differentiate between incremental budgeting and zero-based budgeting. 4. Suny Sdn Bhd produces three products Z1,Z2 and Z3. These products are using the same type of materials: D7, D8 and D9. Budgeted sales volumes of these products for the year 2020 are 2,500 units of Z1,5,000 units of Z2 and 3,500 units of Z3. Selling price per unit for each product is RM100, RM135 and RM140 respectively. The followings are the information on standard and budget for the year 2020. i. Standard usage of materials for one unit of product ii. Inventories of finished goods iii. Inventories of materials iv. Labour is paid based on hours worked. The expected hour to produce one unit of Z1 is 5 hours, Z2 is 6 hours and Z3 is 7 hours. All products are produced by the same grade of labour with a wage rate of RM6 per hour. v. The production overhead is budgeted to be RM200,000 while the nonproduction overhead is expected to be RM150,000 per annum. Required: Prepare the following functional budgets for year 2020: a. Sales budget b. Production budget (units) c. Material usage budget (units) d. Material purchase budget (units and RM) e. Labour budget (hours and RM)