(5 marks) c. K-Pop Cikin exclusively produces two (2) types of fried chicken for the local market. It expects to sell products namely 'Ganjang Cikin' and 'Yangyeom Cikin' at RM12 and RM15 per unit , respectively. The targeted sales volume for "Ganjang Cikin' and 'Yangyeom Cikin' are 800 units and 500 units respectively. Both products are using the same type of raw materials and skilled labour. In producing one (1) unit of each product, the following labour hours and materials are needed: Ganjang Cikin Yangyeom Cikin Material 1 5 kg 3 kg Material 2 2 kg 4 kg Skilled labour 3 hours 2 hours Additional information relating to the products are as follows: 1. The purchase prices for the raw materials 1 and 2 are RM3 per kg and RM8 per kg respectively. 2. The skilled labour is paid a flat rate of RM12 per hour. 3. Stocks of raw materials and finished goods on 1 January 2022 are as follows: Raw materials: Material 1 Material 2 Kg 800 400 Finished goods Ganjang Cikin Yangyeom Cikin Units 120 160 4. Stocks of finished goods and raw materials are to be reduced by 20% and 15% respectively, from their opening levels by the end of 2022. 5. Variable production overhead is absorbed at RM3.50 per skilled labour hour, while budgeted fixed production overhead per annum totaled RM27,744. 6. Fixed production overheads are absorbed based on skilled labour hours. Required: Prepare the following budget of K-pop Cikin for the year ended 31 December 2022: i. ii. jii iv. Sales Budget (in units and value) Production Budget (in units) Raw Material Purchases Budget (in units and value) Production Cost Budget (in value) (20 marks) (Total: 30 marks)