E) Budgetary Planning The C.E.O. has already done some budgeting and provides figures for the Cotton line as follows: Sales - January -15,000 units; February - 17,000 units; March - 18,000 units Each unit requires 2 pounds of material which costs $ 5.00 per pound. He requires an ending raw material inventory equal to 20% of next month's production requirements and finished good amounting to 25% of next month's expected sales. You are asked to: 1) Prepare a production budget for January and February 4 Marks 2) Prepare a direct materials budget for January 6 Marks