Inperial industries has the following sales projections and pricing information for the last 6 months of 2023. Inventory at the end Q2 is 12,000 units, and ending inventory each quarter should be 40% of next quarter's sales. It takes 2 lbs of raw materials to make 1 unit of product, and costs $1.50 per pound.

1. Prepare a sales budget for Q3 & Q4

2. Prepare a production budget for Q3

3. If materials need to be purchased to cover all of the Q3 production and have 1000 lbs left over, how much will it cost?

\begin{tabular}{|l|l|l|l|} \hline Product & Price per unit & Q3 sales projection (unit) & Q4 sales projection (unit) \\ \hline JKL-3 & $20 & 20,000 & 22,000 \\ \hline \end{tabular}