iHerb manufactures cosmetics made from natural ingredients. The controller is currently preparing a budget for the third quarter of the year. The sales forecast has been made as follows: Sales forecast Months Units July 10 000 August 25 000 September 45 000 October 28 000 The selling price per unit is $20 The management of the company wants the ending inventory to be equal to 10% of the following month's sales in units. On June 31st, 500 units were on hand. Required: 1. Prepare the sales budget for the quarter ending in September 30. (20 marks) 2. Prepare the production budget for the quarter ending in September 30. (40 marks) Explain all your calculation steps