Q.6. Britton Corporation manufactures and sells two products, Thingone and Thingtwo. In July, 20A, the company's Budget Department gathered the following data to project sales and budget requirement for 20B: Projected sales: Product Units Price Thingone 60,000 $ 70 Thingtwo 40,000 100 Inventories (in Units): Product Expected January 1, 20B Desired December 31,20B Thingone 20,000 25,000 Thingtwo 8,000 9,000 To produce one unit of Thingone and Thingtwo, the following raw materials are used Amount used per unit Raw Material Thingone Thingtwo A 4 lbs 5 lbs B 2 lbs 3 lbs 1 Unit Projected data for 20B with respect to raw materials are as follows: Anticipated Expected Desired Purchase Inventories Inventories Raw Material Price January 1, 20B December 31,20B A $8 32,000 lbs 36,000 lbs B 5 29,000 lbs 32,000 lbs 3 6,000 units' 7,000 units Projected direct labor requirements and rates for 20B are as follows: Product Hours per Unit Rate per Hour Thingone 2 $8 Thingtwo 3 9 Factory overhead is applied at the rate of $2 per direct labor hour. Required: Based on the projections and budget requirements for 20B for Thingone and Thingtwo prepare the following 20B budgets: 1. Sales Budget 2. Production budget 3. Raw material purchase budget 4. Direct Labor Budget 5. Budgeted finished goods inventory at December 31,20B (2+2+2+2+2=10)