1) Wynn, Inc. manufactures beanies. The budgeted units to be produced and sold are below: Expected Production Expected Sales August 3,500 2,900 September 2,800 3,900 It takes 18 yards of yarn to produce a beanie. The company's policy is to maintain yarn at the end of each month equal to 5% of next month's production needs and to maintain a finished goods inventory at the end of each month equal to 20% of next month's anticipated production needs. The cost of yarn is $0.20 a yard. At August 1,3,150 yards of yarn were on hand. Instructions Compute the budgeted cost of purchases. Show your work