Igloo Co. manufactures and sells a rubber for boots (in bags), called Rubbs. The following data are available for preparing budgets for Rubbs for the first two quarters of 2023. Sales: Quarter 1, 40,000 bags; quarter 2, 60,000 bags. Selling price is $60 per bag. Direct materials: Each bag of Rubbs requires 6 kg of Aces at $4 per kilogram and 10 kg of Zeds at $1.50 per kilogram. Desired inventory levels: Type of Inventory January 1 April 1 July 1 Rubbs (bags) 10,000 15,000 20,000 Aces (kilograms) 9,000 12,000 15,000 Zeds (kilograms) 15,000 20,000 25,000 Direct labour: Direct labour time is 15 minutes per bag at an hourly rate of $12 per hour. Selling and administrative expenses are expected to be 10% of sales plus $150,000 per quarter Income taxes are expected to be 30% of income from operations. Your assistant has prepared two budgets: (1) the manufacturing overhead budget, which shows expected costs to be 100% of direct labour costs; (2) the direct materials budget for Zeds, which shows the cost of Zeds purchases to be $682,500 in quarter 1 and $982,500 in quarter 2 Group of answer choices Sales, Q1 [ Choose ] Sales, Q1 [ Choose ] Required units, Q1 [ Choose ] Required units, Q2 [ Choose ] Required units, Q1 and Q2 [ Choose ] Required production in units, Q1 [ Choose ] Required production in units, Q2 [ Choose ] Hours required in production, Q1 [ Choose ] Hours required in production, Q2 [ Choose ] Cost of direct labour, Q1 [ Choose ] Cost of direct labour, Q2 [ Choose ] Materials required (kg), Q1 [ Choose ] Materials required (kg), Q2 [ Choose ] Cost of materials purchases, Q1 [ Choose ] Cost of materials purchases, Q2 [ Choose ] Selling and admin, Q1 [ Choose ] Selling and admin, Q2 [ Choose ] Cost of 1 unit of finished goods [ Choose ] Cost of goods sold [ Choose ] Gross profit [ Choose ] Net income