11. On January 1, 2021 the Tata Steel Company budget committee has reached agreement on the following data for the 6 months ending June 30, 2021. Sales units: Ending raw materials inventory Ending finished goods inventory First quarter 25,000; second quarter 35,000; third quarter 30,000 50% of the next quarter's production requirements 20% of the next quarter's expected sales units 1.6 hours per unit $12 per unit Direct Labor time per unit Direct labor rate per hour Three pounds of raw materials are required to make each unit of finished goods. Raw materials purchased are expected to cost $4 per pound. Instructions: a) Prepare a production budget by quarters for the 6-month period ended June 30, 2021. (2marks) b) Prepare a direct materials budget quarter 1 ended March 30, 2021. (2marks) c) Prepare a Direct Labor budget for the 6-month period ended June 30, 2021. (1mark)