The Durban Company expects the following sales by month, in units, for the first five months of the year. January 1,500 February 1,800 March 1,900 April 2,500 May 2,000 The company's one product, the TOW, requires two raw materials, TICS and TACS. Each TOW requires two TICS and three TACS. Durban Company follows the policy of having finished goods equal to 50% of budgeted sales for the following two months. Raw material inventories are maintained at 70% of budgeted production needs of the coming month. All inventories at December 31 reflect these policies. REQUIRED: 1. Prepare a production budget by month for TOWS for as many months as possible. Be sure to show all necessary detail for the budget. 2. Prepare the purchases budget by month for TICS for as many months as possible. Be sure to show all necessary detail for the budget. 3. Prepare the purchases budget by month for TACS for as many months as possible. Be sure to show all necessary detail for the budget.