Acme Ltd provides the following budget and other information related to its production of fluffy bears 1. 500 units 12,000 units 800 units Stock of finished goods, 1 July (valued at $9.50 each) Budgeted production for the quarter Stock of finished goods, 30 September Budgeted costs of production for the coming quarter are Direct materials Direct labour Factory overhead applied 30,000 $45,000 $45,000 Finished goods at 1 July are to be valued at the previous quarter's cost, while finished goods at the end of September are to be valued at the average cost for the coming quarter Prepare a cost of production budget and a cost of goods sold budget for the quarter ending 30 September. Ness Enterprises has a policy of stabilized inventory. The sales forecasts for the next six months are as follows: 2. Month July August September October November December Units 100,000 100,000 120,000 110,000 120,000 100,000 Desired opening stock is 150,000 units and desired closing inventory is 120,000 units. Prepare a production budget, detailed by month, for the half-year ending 31 December