Sioux Manufacturing Company is preparing its budgets for the first quarter of 20X6. The company manufactures and sells two different types of power tools: drills and saws. Information available to prepare the budgets is attached. Total fixed manufacturing overhead for each quarter is estimated to be $225,000 REQUIRED: Prepare the following budgets for Sioux Manufacturing Company for the first quarter of 20X6. (1) Sales revenue budget (units and dollars). (2) Production budget for drills (units only). (3) Production budget for saws (units only). Budgeted statement of cost of goods manufactured. SIOUX MANUFACTURING COMPANY ESTIMATED SALES FOR FIRST QUARTER 20X6 Product Units 60,000S 40,000 Unit Price 105.00 120.00 Ending SIOUX MANUFACTURING COMPANY ESTIMATED INVENTORIES FOR FIRST QUARTER 20X6 Inventory Beginning Finished Goods, Drills (Units) 20,000 Finished Goods, Saws (Units) 7.500 Direct Materials, Metal (Pounds) 30,000 Direct Materials, Plastic (Pounds) 31,000 Direct Materials, Handles (Each) 5,500 24,000 9,000 35,00 32.00 7,200 SIOUX MANUFACTURING COMPANY ESTIMATED MANUFACTURING COSTS PER UNIT OF FINISHED PRODUCT FOR FIRST QUARTER 20X6 Manufacturing Cost Drill Saw Direct Materials: Metal 40,00 S 32.00 Plastic 15.00 15.00 Handles 0.00 Direct Labor 24.00 48.00 Manufacturing Overhead: Variable 1 3 .00 5.00 3.00