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 11/2020 31/12/2020 8.000 9.000 9,000 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 Product A pound Hours per Unit Rate per Hour 3 B $ 13 pound 2 5 6 7 1 2 pound two S 15 two one 4 one (5) Projected data for 2020 with respect to direct materials are as follows: Direct Material Anticipated Expected Inventories Purchase Price 112020 A S 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 buigets 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)