Peddle Power Ltd manufactures and sells two different bicycles: PPHybrid and PPElectro. In December 2020, Pedal Power Ltd's budget department gathered the following data to prepare budgets for 2021: 2021 Projected sales Product Unit. Price PPHybrid 60 000. $165 PPElectro 40 000. $250 2021 Inventories in units Expected target Product 1 January 2021 31 December 2021 PPHybrid. 20 000 25 000 PPElectro 8 000 9 000 The following direct materials are used in the two products: Amount used per unit Direct materials Unit PPHybrid. PPElectro A. kilogram. 4 5 B. kilogram. 2 3 C. each 0 1 Projected data for 2021 with respect to direct materials are as follows: Direct Anticipated Expected Target inventories materials pur. inv. price 1 Jan 2021 31 Dec 2021 A. $12 32 000 kg 36 000 kg B 5 29 000 kg 32 000kg C. 3. 6000 units. 7000units Projected direct manufacturing labour requirements and rates for 2021 are as follows: Product Hours per unit Rate per hour PPHybrid 2 $12 PPElectro 3 16 Manufacturing overhead is allocated at the rate of $20 per direct manufacturing labour-hour. Required: Based on the preceding projections and budget requirements for PPHybrid and PPElectro, prepare the following budgets for 2021 using an excel spreadsheet: 1. Revenues budget (in dollars) 2. Production budget (in units) 3. Direct materials purchases budget (in kilograms) 4. Direct materials purchases budget (in dollars) 5. Direct manufacturing labour budget (in dollars) 6. Budgeted finished goods inventory at 31 December 2019 (in dollars)