Ellagic Boutique specializes in producing and selling leather handbags. Currently, there is only one type of leather handbag being produced and sold by the shop for summer collection, namely Havana. The newly designed leather bag is carefully produced by the business owner, Ms. Ellen. The materials are specially purchased from the best supplier in town and the processes are followed under strict quality control. The selling price for each unit of Havana is RM185. The following information is gathered for the purpose of preparing relevant budgets for the third quarter of 2023. (i) The budgeted sales quantity for the quarter are shown below: (ii) The handbag will be using one type of direct material, which is highquality leather. Each unit of Havana will require 2.5 meters of leather. The cost of the leather is estimated to be RM28 per meter. (iii) Every unit of Havana will need 3.6 hours of direct labour hour and the rate for direct labour is set to be at RM14.80 per hour. (iv) It is estimated that budgeted stock of finished goods are 47 units of Havana at the beginning of July 2023. Additionally, the company also wishes to maintain monthly closing inventories of the leather bag at 12 units lower than those monthly opening inventories. (v) In terms of direct materials, the shop plans to keep opening inventories in July 2023 amounting to 65 meters of leather. At the end of every month, the company intends to maintain 10 meters less of leather as compared to the opening inventories. Required Prepare the following budgets for the month of third quarter of 2023