The ABC company manufactures beds that sell for $450. Budgeted sales for May, June and July 2020 are 3000 units , 4200 units and 3500 respectively. Each bed requires 25 square feet of cedar wood at a cost of $8 per sq foot. The company wants to maintain an inventory of bookcases equal to 9% of I I the following month sales. Inventory on May 1 consisted of 120 bookcases The company wants to maintain an inventory of oak equal to 33% of the next month's requirements. Materials inventory on May 1 consisted of 300 sq feet of cedar. The company estimates an inventory of oak on hand at the end of June of approximately 650 sq feet. I Monthly fixed overhead and variable cost based on direct labor hour are provided on the table below: $7500 10 hours $13.50 Supervisor's salaries Direct labor hours for each bed Cost per labor hour Insurance Depreciation of equipment [Office] Depreciation of factory Predetermined $ 1500 $1200 $ 5500 rate based on DHL $5.00 Required 1. Calculate sales budget in $ for each month and total the number of beds sold in May and June 2. Prepare a production budgets in units for each month and in total for May and June I 3. Prepare purchases budget in $ for Direct materials for each month and in total for first two months 4. Prepare a direct labour budget for each month and total of the first 2 months 5. Prepare a manufacturing overhead budget for each month and the total for the first two months units for each month and in total for May and June 3. Prepare purchases budget in $ for Direct materials for each month and in total for first two months 4. Prepare a direct labour budget for each month and total of the first 2 months 5. Prepare a manufacturing overhead budget for each month and the total for the first two months All questions are based on only two months (May and June]