Accepting that there are benefits to implementing a budgetary control system, Mr. Jones has identified the following information about the company's projection for the next year. . Sales Units: First Quarter 4,000 Units Second Quarter - 5,000 Units Third Quarter 8,000 Units . Closing Raw Material Inventory: 20% of the next quarter's production requirements. . Closing Finished Goods Inventory 15% of the next quarter's expected Sales. Third Quarter Production Estimated to be 10,000 Units Opening Inventory of Raw Materials - 4,000 pounds Three pounds of raw material, purchased at a cost of $ 5 per pound, are required to make each unit of finished goods. Mr. Jones wants you to: a) Prepare a Production budget, by quarters, for the six months ending 30th June 2022 Marks by Prepare a Direct Materials budget, by quarters, for the period ending 30th June 2022