Philco Data: Philco Chemicals makes a patented glue for gluing electronic components together. They have a CPU fan glue and a Moltherboard component glue. The glues use two patented chemical bonding agents called Coride and Dride. Operating Expenses are expected to be 17.5% of sales. The operating budgets for 2019 use the following data: $ DLH POR rate Operating Expenses 12.00 per DLH 17.5% $ Direct Materials: Beginning Inventory ($) Beginning Inventory (grams) Target Ending Inventory (grams) Coride 45,000 $ 500 750 Doride 36,000 750 500 grams Input Prices: Coride Doride Direct Manufacturing Labor $ $ $ 4.50 per gram 6.00 per gram 30.00 per DLH Input Quntities per unit of Output: Coride Doride Direct Labour Hours CPU 0.50 1.50 0.30 Motherboard 1.00 gram 2.50 gram 0.40 DLH'S $ Sales and FG Inventory: Expected Sales in Units Selling price Units to be produced Target ending FG inventory (units) Beginning inventory in dollars Beginning FG inventory (units) CPU Motherboard 200,000 120,000 units 55.00 $ 65.00 206,000 132,500 units 15,000 20,000 units 225,000 $ 200,000 9,000 7,500 units $ Required - Produce the following budgets in the tabs shown: i) Sales Budget ii) Production Budget iii) Direct Materials Purchases Budget iv) Direct Materials Used Budget v) Direct Labor Budget vi) MOH (manufacturing overhead) Budget vii) Finished Goods Budget viii) Cost of Goods Sold Budget ix) Budgeted Income Statement