6. (6 points) Layss Company manufactures and sells snack. The company has assembled the following information to assist in the budget preparation: The selling price per pack is $25. The company has the following forecast monthly sales unit for January to May, 2020: January February March April May packs 5,000 6,000 5,500 6,500 6,000 The company wants to maintain an ending inventory equal to 20% of next month's sales and wants to maintain an ending inventory of flour equal to 30% of the materials needed for next month's production. The production department informed quantity of flour needed 4 kilograms per pack, $90 per kilograms. The company has 1,000 packs of snack and 6,000 kilograms of flour on December 31, 2019. Each snack requires 0.5 hours. Direct laborers are paid $50 per hour. Required: 1. Prepare the production budget for the first quarter of year 2020, with a column for each month and total for the quarter. 2. Prepare the direct material purchase budget for the first quarter of year 2020, with a column for each month and total for the quarter