The following is the sales budget (in units) prepared by the sale manager for the first half of 2020 for Rebok Limited who manufactures running shoes. Month Sales units January 155,000 February 170,000 March 140,000 April 164,000 May June 171,000 195,000 Rebok has a policy of holding finished goods at the end of each month equivalent to 25% of the following months forecast sales. Each unit requires 0.6kg of raw materials at a rate of $2.10 per kilogram. The company also has a policy of holding 30% of raw materials at the end of each month for next month's requirements Required (a) Prepare the production budget for each month for the first quarter of the 2020. (2 marks) (b) Prepare the raw materials budget including both the purchase volume and costs for the month of January 2020 ONLY. (2 marks) (c) Explain the importance of production and raw material budgets for Rebok Limited (1 mark) Total 5 marks