Paper One Limited, a company operated by John Mee, has been in the business of buying and selling shopping bags for many years. His son, who joined the business in October 2018, believes that it was an opportune time for them to start to manufacture the bags on their own as it would result in an increase in the profit margin. The company's budget for the first six months of 2019 shows the following: Month January February March Unit Sales 3000 4000 7000 5000 April 6000 May June 4000 In crafting the budget, the Accountant is required to take the following information into consideration: 1. Number of units in the finished goods inventory on 15 January 2019 was 1000 units. 2. In order not to deplete the stock, the company's policy is to always maintain closing inventory equal to 20% of unit sales projected for the following month. 3. Closing finished goods inventory at the end of June was 300 units. 4. Five (5) pounds of raw materials are required to make each radio. 5. It is the company's policy to keep Inventory levels for raw materials at 30% of the requirements for the next month. 6. The cost of material is $20 per pound. 7. Raw material inventory on 1st January, 2019 was 4000 pounds. 8. Closing raw material inventory at the end of June was 1500 pounds Required: a. Prepare a production budget in units for the period January to June, 2019. b. Prepare a material purchases budget in pounds and dollars for the period January to June, 2019