1. Sales Budget [No schedule of cash collection will be needed as all sales are on cash.] 2. Direct Material Budget(s) [Make a separate budget for each direct material. No schedule of cash disbursements for direct material will be necessary as all purchases will be made in cash.] Imagine, you are planning to start a new small, home-based business. You are going to make and sell a single food item. What is the food item that your business will sell? Jalebi and Rabri Assumptions: You are starting your business next month, so currently you have no beginning inventory of finished goods or raw materials. Also, there is no beginning balance for accounts payable or accounts receivable. Since the business is very small and home-based, there is no direct labor cost for your business. Labor wage (if any) is assumed to be fixed and part of MOH. All the manufacturing costs you incur for your business falls under any one of the two categories: direct material (DM) or MOH. (Remember indirect material is part of MOH) To calculate the DM cost for your product, find out a simple recipe for the product you are planning to sell. You MUST NOT visit any physical store to collect any data. All information must be collected from the internet. If you can't find any information you need on the internet, make reasonable guesses. For each of your direct materials fill out the following table. Make more copies of the table if necessary. You need to have a separate table for each direct material. Direct Material 1: Direct material item name Quantity of DM required for each unit of product What is the quantity of DM that you will need for each unit for your product? For example, 100gm chinigura rice for one plate of Tehari. Desired ending inventory of DM as a percentage of following month's production requirement Write just the percentage value. Price per unit of direct material For example, the cost of chinigura rice is 90 taka per kg. This is not the cost of DM per unit of product, i.e. this is not cost of rice 9tk per plate of Tehari. Direct Material 2: Direct material item name Quantity of DM required for each unit of product What is the quantity of DM that you will need for each unit for your product? For example, 100gm chinigura rice for one plate of Tehari. Desired ending inventory of DM as a percentage of following month's production requirement Write just the percentage value. Price per unit of direct material For example, the cost of chinigura rice is 90 taka per kg. This is not the cost of DM per unit of product, i.e. this is not cost of rice per plate of Tehari