Florence Ltd manufactures Romas. The following information is available for the next budget year: Forecast Sales 7,000 Romas WANTV Per Romo Sales price Raw Materials Direct Labour Variable Production Overhead 30 2 kg @ 3.00 per kg 30 minutes @ 14 per hour 8 per direct labour hour Budgeted Fixed Overhead Production Non-Production 24,000 32,000 Stocks of Romas valued at production cost 204 Opening Stocks Budgeted Closing Stock 1,000 Romas 2,000 Romas WWWWWW No stocks of raw materials are carried (a) Prepare the following budgets for the year (0) Sales Production in units and Raw Material Usage Direct Labour (v) Overhead (iv) (b) Prepare a Budgeted Profit Statement for the year. (c) Explain how the production cost of 20 has been calculated. (25 marks)