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: First quarter 25,000; second quarter 35,000; third quarter 30,000 Ending raw materials inventory 50% of the next quarter's production requirements Ending finished goods inventory 20% of the next quarter's expected sales units Direct Labor time per unit 1.6 hours per unit Direct labor rate per hour $12 per unit 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)