Unicorn Trading manufactures bags. The company uses raw materials Leather and Lining to manufacture the bags. With the following information provided, they have asked you to help them with their budgets: Projected sales 4 000 units @ R250 per unit Production requirements The standard material cost per bag is as follows: Leather: 3m = R20 per metre Lining: 2.5m= R18 per metre It takes 4 labour hours to produce one bag @ R7 per hour Manufacturing overheads Variable overheads are estimated at 10% of direct labour cost. Fixed overheads amount to R22000, and they are allocated based on total labour hours. Opening and closing inventory requirements Bags Leather Lining Opening inventory 400 bags 2 000 metres 1800 metres Closing Inventory 480 bags 2160 metres 2240 metres Required: Prepare the following budgets for Unicorn trading: 1. Sales budget 2. Production budget 3. Material Usage budget 4. Material Purchase Budget 5. Direct labour budget 6. Closing Stock Budget (round off your answer to 2 decimals).