Hamilton Company is currently in the process of preparing a master budget for the 1st quarter of 2021. Budgeted production for the quarter is as follows: January February March Units 1,050 1,430 820 The products standard absorption cost per unit, based on average expected production for 2021 of 1,000 units per month is as follows: Direct materials 6 pounds @ $3.00 per 1b. $18.00 Direct labor 0.5 hours @ $16.00 per hour 8.00 Variable overhead 0.5 direct-labor hours @ $10 per hour 5.00 Fixed overhead 0.5 direct-labor hours a $20 per hour 10.00 Total $41.00 Hamilton desires to have ending an inventory of direct materials equal to 30 percent of the materials needed for the following month's production. Ending inventory on December 31, 2020 is expected to fulfill this requirement for January. Purchases of direct materials are paid 40 percent in the month of purchase and 60 percent in the following month. All other manufacturing costs are paid in the month incurred. Fixed manufacturing overhead includes monthly depreciation of $2,500. The company uses absorption costing for preparing the budget and calculates budgeted monthly over or underapplied fixed manufacturing overhead. The over or underapplied fixed overhead is shown as an adjustment to cost of goods sold on the monthly financial statements. a. Calculate the budgeted purchases in pounds and dollars for each of the months of January and February (round to whole numbers/dollars and enter with commas for thousands). a. Calculate the budgeted purchases in pounds and dollars for each of the months of January and February (round to whole numbers/dollars and enter with commas for thousands). b. Calculate the budgeted disbursement for purchases in February (round to whole numbers/dollars and enter with commas for thousands). c. Calculate the following balance that would be shown on a budgeted statement of financial position (balance sheet) for February 28, 2021 (round to whole numbers/dollars and enter with commas for thousands). Accounts Payable a. Purchases for Jan: Lbs type your answer... Dollars $ type your answer... Purchases for Feb: Lbs type your answer... Dollars $ type your answer... b. Budgeted disbursements for purchases in Feb: $ type your answer... c. Feb 28th, 2021 Accounts Payable balance: $ type your