The XYZ company produces three products, X, Y, and Z. For the coming accounting period budgets are to be prepared using the following information: Budgeted sales Product X 2,000 units at $100 each Product Y 4,000 units at $130 each Product Z 3,000 units at $150 each Standard usage of raw material (units) Opening 500 800 700 Closing 600 1,000 800 Inventories of raw materials Wood Varnish (kg) (litres) Opening Closing Labour: 21,000 10,000 18,000 9,000 Standard hours per unit Labour is paid at the rate of $3 per hour X Y 6 8 N Prepare the following budgets: (a) Sales budget (quantity and value) (b) Production budget (units) (c) Material usage budget (quantities) (d) Material purchases budget (quantities and value) (e) Labour budget (hours and value)