M&M manufactures one product, namely Ml. The following information applies to the budget preparation for the year ending 31 December 2017. The sales forecast for product Ml is 25,000 units selling at a price of RM115 each. All the sales are expected to be on credit. In order to produce one unit of M1, the following materials are required: Material X Material Y 7 units at RM5 per unit 3 units at RM9 per unit There are two departments involved in producing Ml, namely Machining Department and Assembly Department. For each unit of M1, the machine hours required are 2 hours at RM8 per machine hour; for assembly, 1 direct labour hour is needed at RM10 per labour hour. The following stocks are expected as on 1 January 2017: Product Mi Material X 2,800 units 6,000 units 10,000 units RM56,000 RM15,000 RM30,000 Material Y There is an increase of 15% in both finished goods and raw materials as at 31 December 2017. REQUIRED TO PREPARE: a) Sales Budget (2 marks) b) Production Budget (4 marks) c) Direct Materials Usage Budget for Material X and Material Y (2 marks) d) Direct Materials Purchases Budget for Material X and Material Y (6 marks) e) Direct Labour Budget for Machining Department and Assembly Department (6 marks)