Foot Flair makes sparkly accessories for your basketball high-tops. For the year 2020, the total number of units sold was 5,000 and the selling price per unit was $20. For 2021, the company plans to increase the number of units sold by 10% and will also increase its selling price by 6%. The targeted ending finished goods inventory will be 1,000 units, while the ending finished goods inventory at Dec 31, 2020 was 700 units. With this information, what is the expected total revenue for the year 2021, and what is the expected production budget for 2021, respectively?

$106,000 in budgeted revenues and 5,800 budgeted units of production.

$110,000 in budgeted revenues, and 5,200 budgeted units of production.

$116,600 in budgeted revenues and 5,200 budgeted units of production.

$116,600 in budgeted revenues and 5,800 budgeted units of production.