Selected information concerning sales and production for Cabot Co. for July are summarized as follows: A. Estimated sales: Product K:40,000 units at $30 per unit Product Li: 20,000 units at $65 per unit B There were no work in process inventories estimated for fuly. There were no work in process inventories desired for July 31 . D. Direct materials used in production: E. Unit costs for direct materials: Material A: $4.00 per lia. Material B: $2.00 perlb. F. Direct labor requirements: H. Estimated factory overhead costs for July: Instructions 1. Prepare a sales budget for July. 2. Prepare a production budget for July. 3. Prepare a direct materials purchases budget for July. 4. Prepare a direct labor cost budget for July. 5. Prepare a cost of goods sold budget for July. Nand wore practice? Find addhtonat wilniplecbolce questions, enercises, and problews tn CeagagoNoWez