Ch 15 Budgeting (9 Points) 2: Axar Limited has extracted the following budgeted details for the year to 30 September 2020: It Sales: 4,000 units ofV at $500 per unit 7000 units of R 2118300 per unit IIr Material usage (per unit): Raw material 01 T2 L3 V 9 12 R l 10 III: Raw material costs (per unit): S 01 8 T2 6 L3 3 IV Raw material inventory: Units 01 T2 L3 Opening inventory 1,3 00 1,400 400 Closing inventory 1,400 1,000 200 V. Finished inventory. Opening inventory Clo sing inventory VI: Direct labor: Budgeted hours per unit Budgeted hourly rate (5) VII: Variable overhead: Budgeted hourly rate (5) Units V R I 10 90 120 l 50 Product V R l 0 8 12 6 Product V R l 0 5 VIII. Fixed overhead: $193,160 (to be absorbed based on direct labor hours) Required: a) Prepare the following budgets: 1 Sales ii Production units iii. Material usage iv. Materials purchase v, Production cost per unit b) Calculate the total budgeted prot for the year to 30 September 2020