one Question Three: Dawn Co. manufactures and sells two products: one and two. In the beginning of 2020. Dawn Co. budget department gathered the following data to prepare budgets for 2020: (1) 2020 Projected sales (2) 2020 Inventories in units Product Units Price one 43.000 $ 70 Expected Target two 22.000 $ 110 Product 1/1/2020 31/12/2020 8,000 9,000 5,000 6,000 (3) The following direct materials are used in the two products: Amount Used per Unit (4) Projected direct labor requirements and rates Direct Material Unit two Hours per Unit A pound 4 Product 3 Rate per Hour 5 B $ 13 pound 2 1 2 two pound 7 $ 15 two one one 6 (5) Projected data for 2020 with respect to direct materials are as follows: Direct Material Anticipated Expected Inventories Purchase Price 1/11/2020 A $ 10 22,000 lb. B $4 25.000 lb. $6 4,000 lb Target Inventories December 31, 2020 26,000 lb 28,000 lb 6,000 lb. Instructions: prepare the following budgfts for 2020: 1. Revenues budget (in dollars) 2. Production budget (in units) 3. Direct material purchases budget (in dollars) 4. Direct manufacturing labor budget (in dollars)