Question 4 (20 marks) Tasty Food Ltd, a toffee apple manufacturer, is in the process of preparing operating budgets for the next few months and the following estimated figures are available: (i) Sales forecast: April May June July 9,000 cases 11,250 cases 12,750 cases 10,500 cases (ii) A case has a standard cost of $280 and a standard selling price of $350. (iii) Each case uses 3 kg of ingredients and it is the company's policy to have an inventory of ingredients at the end of each month to cover 50% of next month's production. The inventory of ingredients on 1 April is 12,600 kg. (iv) There are 1,100 cases of finished toffee apples in the inventory on 1 April and it is the company's policy to have an inventory at the end of each month to cover 10% of the next month's sales. Required: (a) Prepare a production budget (in cases) for the THREE months from April to June. (6 marks) (b) Prepare an ingredients purchase budget (in kg.) for the THREE months from April to June. (9 marks) (c) Calculate the budgeted gross profit for the quarter from April to June