Question 2: 11 Marks Chocaholics-Un-Limited produces a 6 ounce chocolate bar. Each 6 ounce bar contains three ounces of sugar, which costs $.025 per ounce. Chocaholics-Un-Limited has budgeted production of the chocolate bar for the next four months as follows: Month Units October 400,000 November 800,000 December 500,000 January 600,000 Inventory policy requires that sufficient sugar be in ending monthly inventory to satisfy 15 percent of the following month's production needs. Inventory of sugar at the beginning of October equals exactly the amount needed to satisfy the inventory policy. Each chocolate bar produced requires on average .01 direct labor hours. The average cost of direct labor is $9 per hour. Required: a) Prepare a direct materials purchases budget for each of October and November. Your calculations should include purchases in ounces and in dollars. (5 Marks) b) Prepare a direct labor budget for each of October and November. Your calculations should include direct labor hours and direct labor dollars. (3 Marks) c) Assume that manufacturing overhead is calculated at 25% of direct labor costs. Calculate the cost of units manufactured for the month of October. (3 Marks)