Prepare the following schedules of the master budget for the year ended October 31, 2020. Assume that the company uses first in, rst out (FIFO) for inventory costs: a) b) c} d) a) f) g) h) i) i) k) Revenue budget Production budget Direct materials usage budget Direct materials purchases budget Direct manufacturing labour budget Manufacturing overhead budget Computation of unit costs of finished goods inventory Budgeted ending inventory Budgeted schedule of cost of goods sold Budgeted income statement A good budget must start with credible data. Both internal and extemal factors can affect the quality of the data used to develop a budget. i. Identify two external factors that should be considered when developing this budget. ii. Explain how Spaworks' management team could control the risk of using unreliable data in its operating budgets