one two 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 Price 43,000 $ 70 Expected Target 22,000 5110 Product 112020 31/122020 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 3 Product pound Hours per Unit Rate per Hour $ 13 pound 6 pound 1 $15 2 one two Unit two one 4 2 3 B onc two (5) Projected data for 2020 with respect to direct materials are as follows Direct Material Anticipated Expected Inventories Purchase Price 112020 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 budgets 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)