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Question: Beirut Ries Inc. produces and distributes different kinds of guns. The information below about Beirut's operations has been assembled to assist budget preparation. The company is preparing its master budget for the rst quarter of 2020. The budget will detail each month's activity and the activity for the quarter in total. The master budget will be based on the following information: a. Selling price was $65 per unit in 2019 and will not change during 2020. Actual and Estimated Sales are as follows - Actual 2019I Estimated 2020 December: 15,000 units Janua : 13,000 units February: 14.000 units March: 16.0mm Anrmisnoounns Ma :15.000 units b. The company produces enough units each month to meet that month's sales plus a desired inventory level equal to 25% of next month's estimated sales. Finished goods inventory at the end of 2019 consisted of 2,000 units. c. The company purchases enough raw materials each month for the current month's production requirement and 20% of next month's production requirement. Each unit of product requires 4 kilograms of raw material at $0.50 per kilogram. There were 25,000 kilograms of raw materials in inventory at the end of 2019. Beirut pays 30% of the raw material purchases in the month of purchase and the remaining 70% in the following month. Each unit offlnlshed product requires 1.5 labor-hours. The average wage rate is $18 per hour. Variable manufacturing overhead is 40% of the direct labor cost. Sales are 30% in cash and 70% in credit. Credit sales are collected in the month following sale. Fixed manufacturing overhead costs (per month) are as follows- Factory Manager's Salary 5 6,500 Factory Insurance 5 3,400 Factory Rent $85,000 Depreciation of factory equipment 5 2,000 F7\"??- h. Total xed 5 8: A expenses are as follows - Advertising 5 3,000 Depreciation 5 8,000 Insurance 5 750 Salaries 5 5,000 Other $12,950 i. Variable selling and administrative expenses consist of $3/unit for shipping and 10% of sales for commissions