1. Prepare a Sales budget for the quarter ended September 2029.

2. Prepare a Production budget for quarter ended September 2029.

3. Prepare a raw materials purchases budget for rubber for the months of July and August (inclusive).

4. Prepare a direct labour budget for quarter ended September 2029.

5. Prepare an Overhead budget for quarter ended September 2029.

Lulu Ltd specialises in manufacturing and selling luxury sport life-style products, including reversible yoga mats made of rubber and treated with an antibacterial additive called amirco. While the company performed beyond expectations in the last financial year, Lemi Yogi, the managing director of Lulu Ltd., is worried about the ever-increasing price of raw materials and its effect on the company's profit margin and Lemi has asked you to prepare some budgets On 30 June 2029, Lulu Ltd had finished goods inventory of 10,000 yoga, $210,000 worth of raw materials (comprising $210,000 rubber, but no amirco), and Accounts Receivable totalling $2,500,000 (net of bad debts). Gross profit for the period ending 30 June 2008 was $14,350,000 The company plans to increase its mark-up policy to 25% in order to cater for the expected increase in the price of raw materials. The selling price therefore is expected to be $150 per mat for the next quarter. The expected sales for the next 4 months is as follows July August September 60,000 mats October November 70,000 mats 45,000 mats 50,000 mats 65,000 mats Lulu Ltd. has a policy of setting its finished goods inventory level at the end of each month to equal 30% of the next month's budgeted yoga mat sales Each yoga mat requires 2 metres of rubber and 1 litre of amirco. Direct labour is projected to be 3.5 hours per production of yoga mat, and the company incurs a cost of $45 per hour for direct labour wages. Rubber cost S10.50 per metre, and amicro is S20 per litre. The company ends each month with enough rubber to cover 10 per cent of the next month's production requirements; amirco, however, is all used up each month. Lulu Ltd's variable OH rate is S15 per unit and budgeted fixed OH is S10,000 per month