PART B - Operating Budgets The owner, Mimi, is planning to introduce another sauce, Asian BBQ, into the business line in the Quarter 3 of 2022. The Sales Manager and the Production Manager has provided Mimi with the following projected information for Quarter 3 and Quarter 4 of 2022: Quarter 3 - 2020 Quarter 4 - 2020 Avocado Hot Sauce Spicy Aioli Asian BBQ Avocado Hot Sauce Spicy Aioli Asian BBQ Sales Unit (bottles) 1,500 1,000 300 1,500 1,000 500 Unit Selling Price RM15 RM10 RM10 RM15 RM10 RM10 Direct Material Required per bottle (in m/) 300 250 450 300 250 450 Cost of Direct Material (RM per m/) RM0.10 RM0.05 RM0.04 RM0.10 RM0.05 RM0.04 Direct Labour Hours (DLH per bottle) 1.5 1.0 1.0 1.5 1.0 1.0 Rate (RM per DLH) RM4.50 RM4.50 RM4.50 RM4.50 RM4.50 RM4.50 The managers would like to maintain the quarterly ending balances of its inventories as: Finished Goods Inventory 10% of current Quarter's required sales unit Raw Materials Inventory 10% of current Quarter's required direct material (in m/) It is expected that the beginning balances for Quarter 3 of both inventories to be at: Finished Goods Inventory Raw Materials Inventory Avocado Hot Sauce 150 units 45,000 ml Spicy Aioli 100 units 25,000 mlThe standard cost cards for 2022 is available for reference to plan the quarterly budgets: Manufacturing Overhead Selling & Administrative Expense - Costs Card - Costs Card Variable Costs RM per DLH Variable Expenses % on Sales Revenue Utilities RM0.25 Shipping Charges 1.00% Packaging RM0.15 Sales Commission 5.00% Fixed Costs per month Fixed Expenses per month Factory Rent RM30,000 Travel Allowances RM1,000 Depreciation - Mixer Blender RM5,000 Advertising RM1,500 Required: Show all workings on a Microsoft Excel spreadsheet. Marks are granted based on the correct answer, and, the relevant Excel cell-reference, formulae and/or functions used. Prepare the following Operating Budgets to project KSB's expected costs requirements for the last 6-months of 2022: Group 1 a) Sales Budget b) Production Budget Show the total for each product and the total for each quarter. (10 marks)Group 1 Manufacturing Overhead Budget Show the total for each quarter