Gerrad Manufacturing has projected sales of its product for the next six months as follows: January 300 units February 700 units March 1,000 units April 900 units May 400 units June 300 units Th e fi nished product requires 3 pounds of raw material and 10 hours of direct labor. Gerrad tries to maintain a Finished Goods ending inventory equal to the next two months of sales and a Raw Material ending inventory equal to one-half of the current months production needs. Januarys beginning inventories are expected to conform to company policy. a. Prepare a production budget for February, March, and April. b. Prepare a forecast of the units and cost of raw material that will be required for February, March, and April. Th e expected cost per pound of raw material is expected to be $2 in February, $2.30 in March, and $2.40 in April. c. Prepare a direct labor budget (assuming a $12 per hour rate) for February, March, and April. " 1. Prepare a Production Budget for February, March, and April; include a totals column for the period. 2. Prepare a forecast (Purchases Budget) of the units and cost of raw material that will be required for February, March, and April; include a totals column for the period. 3. Prepare a Direct Labor Budget for February, March, and April; include a totals column for the period. 4. All schedules should be in Excel and in a format appropriate for presentation to management