Dairyland reviewed the market trends for chocolate and estimated sales for 2022 as shown below. Quarter 1 2 3 4 Sales (in units) 40,000 48,000 60,000 52,000 The expected average price per unit 6. The management prefers to maintain 10% of next quarter's sales in ending inventory of nished goods. For materials, the company uses 2 pounds of material to produce 1 unit of product with a desired ending inventory of 20% of next quarter's production needs the cost of material per pound is 1. It takes 010 direct labor hours to produce I unit of product. The average hourly rate is 13 Manufacturing overheads per unit: Fixed overhead costs Salaries: 15,000 Rent: 10,000 Variable overhead costs: Indirect materials: 0.15 per unit Indirect labour: 0.10 er unit Other: 0.25 per unit Selling and Administrative costs: Variable overhead costs: Salaries: 40,000 Rent: 8,000 Advertisement: 5,000 Other: 2,000 Required: a) Prepare subsidiary budgets: Sales, Production, Material purchases, labor and Manufacturing overhead b) Prepare master budget: Budgeted Income Statement