Peace Company produces two products namely Files and Books. Two types of material X and Y are used in manufacture of these products. The following information is provided by the company for the May 2015. Budgeted sales Product File Quantity 28,000 Price(shs.) 200 Book 30,000 130 Materials used Material Unit cost sh) Quantity Used Product File Product Book X 4 3.5 2 Y 2 3 1.5 There were the following stocks Opening Stock Closing Stock Product File 3,100 1,400 Product Book 2,600 2,800 Material X 5,400 6,600 Material Y 4,800 3,400 Required: Prepare the following budgets i. Sales budget ii. Production budget Materials usage budget in quantities iv. Materials purchases in quantity and value