Question 4 (9 marks) Elton, Inc., expects to sell 6,000 ceramic vases for $20 each. Direct materials costs are $2, direct manufacturing labor is $10, and manufacturing overhead is $3 per vase. The following inventory levels apply to 2016: Direct materials Work-in-process inventory Finished goods inventory Beginning inventory 1,000 units 0 units 400 units Ending inventory 1,000 units 0 units 500 units REQUIRED: (a) What amount will be reported for sales on the 2016 budgeted income statement? (2 marks). (b) How many ceramic vases should be produced in 2016? (2 marks). (c) What amount will be reported for cost of goods sold on the 2016 budgeted income statement? (2 marks). (d) What are the 2016 budgeted production costs for direct materials, direct manufacturing labor, and manufacturing overhead, respectively