Spaworks Inc. makes hot tubs for residential use. The hot tubs, which consist of a fibreglass finish and proprietary insulation glass, are sold with an all-weather pump and heater unit for $2,750. The company is planning its annual budget for the coming year ending October 31, 2020, and the controller has provided the following data: Sales F2020 15,000 tubs F2021 November sales: 1,800 tubs, December sales: 1,500 tubs Selling price per tub: $2,750.00 Materials and labour requirements (per tub) Direct materials Insulation Fibreglass Pumps Direct labour 5.0 kg 10.4 sq. metre (m2) 1 unit 8 hours Inventorles Qty Units Cost 550 unit $1,400.00 Beginning: Finished goods Direct materials Insulation Fibreglass Pumps 2,195 6,500 550 kg m2 unit $15.00 $12.00 $850.00 Ending finished goods inventory is 25% of next month's sales. Ending direct materials inventories are 20% of next month's production needs. Direct materials inventory is expected to change to the following: Insulation $ 16.00 per kg Fibreglass $ 13.00 per square metre Pumps $900.00 per unit Other rates Direct labour wage rate Variable manufacturing overhead Variable marketing costs Number of customers $22.50 per hour $26.00 per direct labour hour $250 per customer 15,000 Other costs Fixed manufacturing overhead Fixed non-manufacturing costs $319,275 $1,250,000 Required: Prepare the following schedules of the master budget for the year ended October 31, 2020. Assume that the company uses first in, first out (FIFO) for inventory costs: a) Revenue budget b) Production budget c) Direct materials usage budget d) Direct materials purchases budget