Arcadia Concepts had the following projected sales (in units) for one of the products it manufactures: January February March 6,200 units 7,000 units 6,600 units The finished goods inventory at the end of each month should be equal to the 30% of the next months projected sales. On December 31 the finished goods inventory was 1,860 units. Each unit requires 4 litres of raw materials. The company has a policy of having raw materials in inventory at the end of each month equal to 60% of the next months expected needs. On December 31 the company had 15,500 litres of raw materials in inventory. Required: a) Prepare a production budget showing the quantity of finished goods to be produced in January and February (3 marks) b) Prepare a budget showing the quantity of raw materials to be purchased in January (4 marks)