Kuat Wrapper Bag Company (KW) produces cases of grocery bags. The managers at KW are trying to develop budgets for the upcoming quarter. The following data have been gathered for the quarter: Budgeted sales in units Selling price Finished Goods (FG) Inventory at the beginning of the quarter Target FG inventory at the end of the quarter Direct labor hours needed to produce one case Direct labor wages Direct materials cost Variable manufacturing overhead cost Fixed overhead costs for the upcoming quarter is applied to product costs based on direct labor hours for the production 1,300 cases RM240 per case 150 cases 100 cases 2 hours per case RM10 RM16 per case RM6 per case per hour RM220,000 Required: 1) Using the above information, develop KW's sales budget in Ringgit Malaysia (RM) and production budget (in cases) for the quarter. (5 marks) 2) Compute the following budget for the quarter: a) Direct labor (2 marks) b) Direct material (2 marks) 3) What is KW's budgeted manufacturing overhead cost per case? (4 marks) 4) What is the budgeted production cost per case? (5 marks) 5) What is the budgeted ending value of the Inventory account? (2 marks) 6) What is budgeted gross margin for the quarter? (2 marks) 7) Explain participative budgeting' in developing operational budget with target profit as a planning technique for business enterprises