Question 1 (40 points) Kilode Ltd has the following projected information for the coming financial year 2019: a) 200,000 units of Product A are expected to be sold b) The opening inventory of finished goods consists of 20.000 units c) The opening inventory of raw materials consists of 16,000 units d) The price of raw materials for 2019 is expected to be N0.60 per unit e) Four (4) hours of direct labour at Nl per hour will be required for each finished product f) Manufacturing overhead (depreciation) is expected to be N142,000 g) Four (4) units of raw materials are used in the production of one finished unit h) Indirect labour and supervision are expected to be 20% of direct labour cost i) Other factory overheads amount to N40.000 flat at zero production and increases by N2,000 for every 10.000 units of finished units produced i) Projected closing inventory of finished goods is 40,000 units k) Projected closing inventory of raw materials is 10,000 units 0 The selling price per unit of finished product is N15 Required: Prepare - i. Sales budget i. Production budget ii. Materials usage budget iv. Material purchase budget Direct labour budget vi. Cost of goods produced budget vii. If a profit of of the selling price is desired, for how much should each product be sold? V