PROBLEM 1. Sales and Labor Budgets (15 points) Sellars Inc, manufactures widgets that sell for $20 each. On June 30, the company had 2,000 widgets in inventory. In addition, each widget manufactured requires 6 minutes of assembly and inspecting time at a cost of $.25 per minute The company expects the following sales and production activity for the third quarter of the year (NOTE: sales = production) July August September 25,000 units 38,000 units 30,000 units Required: a. Prepare the sales budget for the quarter b. Prepare the direct labor budget for the quarter 5