Question 1 Power Solar Pty Ltd manufactures a special circuit used as a component in residential solar energy systems. Sales are seasonal due to the seasonality in the home-building industry. . The expected pattern of sales for the next year (2021) is as follows: Quarter Sales Units 1 st 2,000 and 6,000 3rd 8,000 Ath 4,000 Total for the year 20,000 . Each circuit sells for $25. All sales are on account, and Power Solar Pty Ltd's experience with cash collections is that 60% of each quarter's sales are collected during the same quarter as the sale. The remaining 40% of sales is collected in the quarter after the sales. Anjung Solar Ltd experiences negligible bad debts, and so this is ignored in the budgeting process. Sales in the 4th quarter of 2020 are expected to be $100,000 (4,000units). . Power Solar Pty Ltd plans to have 10% of the following quarter's sales as finished goods inventory at the end of each quarter. On 31 December 2020, Power Solar Pty Ltd expects to have 200 units in inventory. . Each circuit requires two kilograms of raw material. The raw material price is $5 per kilogram. Power Solar Pty Ltd desires to have 10% of the next quarter's production requirement in inventory at the end of each quarter. On 31 December 2020, Power Solar Pty Ltd expects to have 480 kilograms of raw material in inventory. Required: a) Prepare sales budget in units and dollars for each of the four (4) quarters (4 marks) of 2021. b) Prepare production budgets in units for the first and second quarter (4 marks)