Picture Perfect Inc. deals in two types of frames namely, square frame and rectangular frame. The frames are made up of two types of material, metal, and board. Information for the two products for 2019 is given in the following tables: Inventory in hand Balance as at Jan 01, 2019 Target inventory as of December 31, 2019 8,000 9,800 Square frames Rectangular frames 10,200 12,300 1,110 690 Metal 1,170 Board 1,050 Direct material required for each unit of output Metal Board Square frame 0.6 KG 1.5 ft. Metal 0.6 KG Square frame Rectangular frame Board 1.5 ft. 2.2 ft. 0.9 KG Direct labor required for each unit of output Square frames Rectangular frames Skilled 0.8 1.2. Unskilled 1 1.5 I Cost of per unit of inputs Price Metal $22 per KG Board $8 per ft. Skilled labor 32 per hour Unskilled labor 22 per hour During the year 2019, the company is expected to sell 120,000 units of Square frame and 135,000 units of rectangular frame at a selling price of $75 and 110 respectively. Metal Board Skilled labor Unskilled labor $22 per KG $8 per ft. 32 per hour 22 per hour During the year 2019, the company is expected to sell 120,000 units of Square frame and 135,000 units of rectangular frame at a selling price of $75 and 110 respectively. Compute the following budgets: I I (i) Production budget (ii) Direct material consumption budget (iii) Direct material purchase budget (iv) Labor budget