Sanders Swimwear, Inc., produces swimsuits. The following information is to be used for the operating budget this coming year. o Average sales price for each swimsuit is estimated to be OMR50. Unit sales for this coming year ending December 31 are expected to be as follows: Quarter 1st 2nd 3rd 4th Sales (Units) 50,000 90,000 110,000 120,00 Finished goods inventory is maintained at a level equal to 10 percent of the next quarter's sales. Finished goods inventory at the end of the fourth quarter budget period is estimated to be 400 units. o Each unit of product requires 3 yards of direct materials, at a cost of OMR4 per yard. Management prefers to maintain ending raw materials inventory equal to 20 percent of next quarter's materials needed in production. Raw materials inventory at the end of the fourth quarter budget period is estimated to be 9,500 yards. Each unit of product requires 0.5 direct labor hours at a cost of OMR12 per hour. o Variable manufacturing overhead costs are: Indirect Materials Indirect Labour Others OMR 0.60 per unit OMR 3.50 per unit OMR 2.80 per unit Fixed manufacturing overhead costs per quarter are: Salaries Other Depreciation OMR 30,000 OMR 5,000 OMR 9,330 Required: a. Prepare a sales budget b. Prepare a production budget c. Prepare a direct materials purchases budget d. Prepare a direct labor budget e. Prepare a manufacturing overhead budget