3. Kingboard Inc., manufactures and sells a single model of snowboards, the Pipex. In the summer of 2020, Kingboard management accountant gathered the following data to prepare budgets for 2021: Materials Requirements Wood 9 board feet per snowboard Fiberglass 10 yards per snowboard Beginning Inventory 2,040 b.f. 1,040 yards Ending Inventory 1,540 b.f. 2,040 yards Other data include: I Wood Fiberglass 2020 Price $32 per b.f. $8 per yard 2021 Price $34 per b.f. S9 per yard Kingboard CEO expects to sell 3.900 snowboards during 2021 at an estimated retail price of $650 per board. Further, the CEO expects 2021 beginning inventory of 600 snowboards and would like to end 2021 with 400 snowboards in stock. Assume Kingboard uses a FIFO inventory method for both direct materials and finished goods. Ignore work in process in your calculations. Required: a. Prepare the 2021 production budget (in units). (10 pts) b. Prepare the direct material usage and purchases budgets for 2021. (25 pts)