PROBLEM 4 (15%) Lubriderm Corporation has the following budgeted unit sales for the next six-month period: Month June July August September October Unit Sales 100,000 150,000 200,000 150,000 180,000 120,000 November Plans are to have an inventory of finished products that equal 20% of the unit sales for the next month. There were 30,000 units of finished goods in inventory at the beginning of July. Ten pounds of materials are required for each unit produced. Each pound of material costs $5 in June, $6 in July and $7 in August. Inventory levels for materials are equal to 10% of the production needs for the next month. Materials inventory on July 1 was 179,000 pounds. Required: a. Prepare a Production Budgets in units for July and August. (5%) b. Prepare a Direct Material Usage Budget for July and August.(5%) c. Prepare a Direct Material Purchases Budget for July and August.(5%) Production Budget (in units) for the month of Budgeted sales Add: Required ending inventory Total inventory requirements Less: Beginning inventory Budgeted production July August Cont