Data relating to finished-goods inventory for March 2017 are as follows: Rams Blankets Broncos Blankets Beginning inventory in units 14 Beginning inventory in dollars (cost) $1,960 Target ending inventory in units 24 19 $2,945 29 Budgeted sales for March 2017 are 140 units of the Broncos blankets and 195 units of the Rams blankets. The budgeted selling prices per unit in March 2017 are $305 for the Broncos blankets and $378 for the Rams blankets. Assume the following in your answer: Work-in-process inventories are negligible and ignored. Direct materials inventory and finished-goods inventory are costed using the FIFO method. Unit costs of direct materials purchased and finished goods are constant in March 2017. Required 1. Prepare the following budgets for March 2017: a. Revenues budget b. Production budget in units c. Direct material usage budget and direct materials purchases budget d. Direct manufacturing labour costs budget e. Manufacturing overhead costs budget f. Ending inventories budget (direct materials and finished goods) g. Cost of goods sold budget 2. Suppose Hale Specialties decides to incorporate continuous improvement into its budgeting process. Describe two areas where it could incorporate continuous improvement into the budget schedules in requirement 1.