A private company has been granted a license to produce vaccines by the government. The Management Accountant has been working on the budgets using the figures below. Sales Forecast January February March April 8,000 10,000 15,000 17,000 Selling Price Production Volume Forecast Materials January 10,000 20 February March April 12,000 15,800 12,000 Each vaccine requires 15ml of material, which costs 120 per litre (1,000 ml) Opening inventories of material at the start of January are 200 litres The company has a policy of making sure there is sufficient closing inventory to meet production requirement for the following month. Production in April is expected to be 12000 units Labour Number of employees in production department is equal to 20 Standard working day is 12 hours Working days in the week is equal to 5 days Working days in the month is equal to 20 days Basic rate of pay 16 per hour Overtime is paid at time and a half Each vaccine takes 35 minutes (labour hours) to produce. Required