Smith Inc Smith Inc produces headlights used in SUVs. The headlight sales for the next 5 months is projected to be: January February 10,500 March April May 0,000 13,000 16,000 18,500 following information pertains to th e budget assumptions. a. Finished goods inventory on January 1 is expected to be 900 units. The desired ending FGI for any month (except for the Dec 31 inventory as noted previously) is expected to be 20% of the following month's sales. b. Data for materials used are: S3.95 per part S7.10 per part Raw materials inventory is always budgeted to equal 30% Part K298 Part C30 2 parts per unit 3 parts per unit of the following month's production needs. c. Direct labor used per headlight is 1.5 hours at a rate of S21/hr d. Overhead each month is estimated at Overhoad estimatos Foed portion iper month varable cost (3 per DLH (cost Supples 02 12500 4000 Taes Other 4300 1.6 e. Selling and Admin is estimated each to be (variable are on a per unit basis): Exsd Variabls Costs Costs S 88,500 Salaries Commissions Depreciation Shipping Other $1.40 25,000 3.60 137,000 1.60 f. Selling price per headlight is S105.00