Question 5 (10 points) Simple Manufacturing Company makes units that each requires 2 pounds of material at $4 per pound. Simple Manufacturing is planning that 400 and 600 units will be built in May and June, respectively. This is a brand new product so there is no beginning inventory. Simple Manufacturing desires to keep material on hand equal to 25% of the next month's production needs. Use this information to determine total cost of May's raw material purchases. Round answer to closest dollar. (no cents) Your Answer: Answer Question 6 (10 points) Widget Manufacturing Company is preparing a profit budget and has projected that net sales will equal $580,000 for the period and that fixed manufacturing costs will be $100,000. Additionally, Widget expects variable manufacturing costs to be 45% of net sales. Widget manufacturing expects no changes to any inventory values from the beginning of the period to the end of the period. Use this information to determine Widget Manufacturing Company's budgeted gross profit. Enter as a whole number (no cents). Your