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CoursHeroTranscribedText: SelfStudy Problem ID 1 Master Eludget l-lan sell Company's management wants to prepare budgets for one of its products, Duraflex, for July 21319. The firm sells the product for $91 per unit and has the following expected sales {in units] for these months in EDIE: SJQDD 6,5 DD 9,2DD 5,8D The production process requires 4 pounds of Dura-IDDD and 2 pounds of Flexplas. The rm's policy is to mairrtain an ending inventory each month equal to 10% of the following month's budgeted sales, but in no case less than SDI] units. All materials inventories are to be maintained at 5% of the production needs for the next monthr but not to exceed LUBE] pounds. The firm expects all inventories at the end of June to be within the guidelines. The purchases department expects the materials to cost $1.25 per pound and $5.130 per pound for DuralDD and Flexplas, respectively. The production process requires direct labor at two skill levels. The rate for labor at the Kll level is $513 per hour and SEE] per hour for the KITS level. The K102 level can process one batch of duraflex per hour; each batch consists of l units. The manufacturing of Duraflex also requires one-tenth of an hour of Kl?5 workers' time for each unit manufactured. Required: On the basis of the preceding data and projections, prepare the following budgets: a. Sales budget for July {in dolla rs]. b. Prod uction budget for July {in units]. c. Production budget for August {in units}. d. Direct materials purchases budget for July [in pounds}. e. Direct materials purchases budget for July [in dollars]. f. Direct manufacturing labor budget forJuly {in dollars}