Question 2 (24 marks) Motswatswa (Pty) Ltd manufactures a special make of lounge suite covers and has compiled the following data in order to put together their first quarter operating budget for 2020: January February March April Sales (units) 35,000 31,000 38,000 29,000 Additional information: Motswatswa sells each cover for R95. Company policy is to have 30% of next months sales (in units) in ending finished goods inventory. This policy was met in December. Company policy is to have 40% of next months production needs in ending raw materials inventory. The production needs for April is 95,500. This policy was met in December. It takes three meters of material to produce each cover and the cost is R2.75/meters. Required: A. Prepare a sales budget for the January, February and March and for the first quarter in total. (4) B. Prepare a production budget for January, February and March and for the first quarter in total. (8) C. Prepare a direct material purchases budget for January, February and March and for the first quarter in total. (12)