Follete Inc. operates at capacity and makes plastic combs and hairbrushes Follete Inc. is planning its annual budget for fiscal year 2011. Information for 2011 fotlow $0.20 50 50 $27 per ounce per bunch per direct manufacturing labor hour Input Prices Direct materials Plastic Bristles Direct Manufacturing Labor Input Quantities per Unit of Output Direct Materials Plastic Bristles Direct manufacturing labor Machine-hours (MHD Combs 5 0 0.05 0.025 Jounces bunches hours MH Unit Bristles une Unit bunches bunches Guns 2272 Inventory Information, Direct Materials Plastic Beginning Inventory 100 Target ending Inventory 1.766 Cost of beginning inventory $304 Follete Inc, accounts for direct materials tuning a FIFO cost flow Sales and Inventory Information, Finished Goods Combs Expected sales in units 12.000 Selling price 56 Target ending inventory in 1.200 600 Beginning inventory in units Beginning inventory in dollar $1,800 $60,70 out of which haltare Administrative expenses Non manufacturing fixed cost for year 2011 equal to: Administrative expenses are expected to increase by: The total variable nonmanufacturing cost equat 10% $20,100 SN out of which are sale commissions equal to: of sales revenue Required: NB: YOU NEED TO SHOW YOUR DETAILED CALCULATIONS. 1. Prepare the revenues budget 2. Prepare the production budget in units 3. Prepare the direct material purchases budget 4. Prepare the Direct manufacturing labor cost budget 5. Prepare the Nonmanufacturing costs budget