The following information has been extracted from the accounting records of Rice Products

1. Balance Sheet (Statement of Financial Position) as at 30 June 2020:

Cash 9000

Accounts Receivable 85210

Raw Materials Inventory 8408

Finished Goods Inventory 11450

Plant and Equipment (Net)125,000

TOTAL ASSETS 239,068

Trade Creditors8520

Shareholders' Equity150,000

Retained Earnings 80548

TOTAL LIABILITY & EQUITY 239,068

2. The following schedule details the recent actual monthly unit sales achieved for each product to 30 June 2020. Additionally, the sales manager has projected sales volume forecasts for each product to Aoril November 2020:

PRODUCT

Kickboard 1,900, 2,000, 2,700, 2,400, 2,600, 2,300, 2,900, 3,000

Pool Buoy 1,300, 1,400, 1,300, 1,100, 1,300, 1,000, 900, 1,000

3.Kickboards sell for $28 each and pool buoys for $24 each.

4. Details of the standard costs to manufacture one unit of each product are provided below:

FACTORS OF PRODUCTION

Materials:

Resin (kickboards 2 litres @$0.45/litre) (pool buoys 3 litres @$0.45/litre)

Hardener (kickboards 5 litres @$0.70/litre) (pool buoys 2 litres @$0.70/litre)

Labour:

Mixing Department (kickboards 18 minutes @$20/hour) (pool buoys 12 minutes @$20/hour)

Moulding Department(kickboards 12 minutes @$30/hour) (pool buoys 12 minutes @$30/hour)

Factory Overhead:

Mixing Department (kickboards $7.00/direct labour hour) (pool buoys $7.00/direct labour hour)

Moulding Department (kickboards $11.00/direct labour hour) (pool buoys $11.00/direct labour hour)

Depreciation on factory equipment is computed to be $1.00 per labour hour for each department and is included in the factory overhead rates shown above.

5.Labour costs and all overhead costs (except depreciation) are paid as they are incurred. Monthly differences between applied and actual overhead costs are expected to be negligible.

6.Rice has an inventory policy in place where purchases of raw materials are scheduled to be 60% ofthe next month's anticipated production needs. Additionally, productionis scheduled so that the number of finished units on hand at the end of each month is sufficient to support 30% of thefollowing month's forecast sales.

7.The number of inventory items held as at 30 June 2020 was as follows:

MATERIAL/PRODUCT - LITRE/UNIT

Resin 5040 litres

Hardener 8772 litres

Kickboards 720 units

Pool Buoys 330 units

8.Rice uses the FIFO (first in first out) method to value ending inventory.

I need help preparing a the below for the next quarter (July, August and September 2020). The figure for direct materials purchase budget for the quarter should be 42,826. Production budget for kickboard = 7,450 for quarter & pool buoys 3,340 for quarter

Direct Material Purchase Budget (Unites and $)

Direct Labour Budget (Hours and $)