Question 2 Hawk Limited manufactures three products. The standard cost data relating to the products is:- Material Unit cost Product M usage Product N usage Product 0 usage A 55p 5 4 0 B 50p 3 2 6 c 35p 0 3 5 During the first four week period budgeted sales are:- Product M 15,000 units Product N 17,000 units Product 0 12,000 units The inventories on hand at the beginning of the period are expected to be: Material units Finished goods units A 10,000 Product M 2,000 B 20,000 Product N 1,600 C 10,000 Product 0 1,800 In order to satisfy orders more quickly. it is planned to increase finished goods inventory by 10%. However material inventory is to be reduced by 10% by the end of the period, Prepare the following budgets a) Production (Volume) b) Material usage (volume) c) Material purchases (volume and value)