Suppose you are the production manager in a company. The cost record and financial information are given in Table 1. You are going to make a budget on sales volume of 300 units and ending inventories of 30 units for next year. Moreover, you are granted a loan of $6,500 from a bank, and must repay all in once at the end of next year, with an interest rate of 8% per annum. Opening cash Beginning inventories Raw materials Direct labour Manufacturing overhead Shop expense Salary of sales staff Administrative cost Purchase of equipment Depreciation of assets $7,500 20 units $80 per unit $10 per unit Within 250 units: $1,500 in total Exceeding 250 units: $4 per extra unit $100 per month Basic: $500 per month Bonus: $2 per unit sold $3,000 per month $5,000 $800 Table 1 (a) What are the production volume in units and production budget in dollars for next year? (b) If the net profit is budgeted to be $10,000, how much should be the selling price? (c) Determine the budgeted ending cash next year. (d) Suppose the senior management of the company is considering and evaluating another investment, which may affect the business plan as well as the manufacturing level. In this uncertainty, which budgeting approach should you use