The Bear Corporation will begin business operations on January 1, 2021. Below is the anticipated SALES BUDGET (in units): 140,000 20,000 Mar 160,000 130,000 Mas 20,000 Jan Feb. ADDITIONAL INFORMATION Ending finished goods inventory should be equal to 10% of next month's sales projection h. Each unit requires 3 pounds of material at a raw material cost of $5 per pound. c: Labor cost is $10 per unit produced. 4 Ending raw material inventory should be equal to 20% of next month's material requirement. Factory overhead is $18,000 per month of which $8,000 is for depreciation. 1. All costs are paid in the month incurred except for purchases which is paid in the following month. The selling price per unit is $100. REQUIRED: Using Excel, in good form: Prepare a SALES BUDGET for the first quarter (January through March) Prepare a PRODUCTION BUDGET for the first quarter (January through March). Prepare a Raw Materials PURCHASES BUDGET for the first quarter (Jan. through Mar.) Prepare a CASH DISBURSEMENTS budget for the first quarter (January through March)