The firm employs a traditional manufacturing cost flow inventory and accounting system, however, the company does not operate a Work-in-Process Inventory account. Financial and production data from the plants results for the year ended 30 June 2022 were as follows:

2022 Year data
Sales (bottles)	54,650
Price (average 2022 price received per unit)	$65.00
Prime Costs (per unit)
Raw Materials	$18.00
Direct Labour	$2.50
Closing Inventory:
Raw Materials (650 bottles)	$12,630,000
Finished Goods (1,320 bottles)	$26,880,780
Variable Manufacturing Costs (per unit)	$3.10
Factory Management Salaries (p.a.)	$410,000
Factory Plant & Equipment Depreciation (p.a.)	$51,000
Other Depreciation and Amortisation (p.a.)	$27,000
Advertising and Marketing Expenses (p.a.)	$630,000
Finance Costs (p.a.)	$98,000
General Administration Expenses (p.a.)	$160,000
Other Expenses (p.a.)	$8,680,000

Key company policies and other details pertaining to the next five years are provided below:

The company has the following target safety stocks for inventories:

Inventory	Minimum safety stock
Raw materials	3 weeks
Finished goods	6 weeks

Based on future sales projections, the firm expects sales and production to grow by 6% p.a. over the next four years.

Given growing brand recognition and product quality, the firm expects to increase the selling price by 4% p.a. over the next four years.

Depreciation and amortisation costs are calculated on a straight-line basis.

Raw materials costs are expected to grow by 3% p.a. over the next four years.

Conversion costs are expected to grow by 2.1% p.a. over the next four years.

All other costs are all expected to increase in line with expected inflation (i.e. 7% p.a.) over the next four years.

Required:

Using Excel, develop Sales, Production and Purchase budgets as well as a budgeted Schedule of Cost of Goods Manufactured, Schedule of Cost of Goods Sold, and an Income Statement for each of the next four years (commencing 1 July 2022).