Nina & Co. produces camping refrigerators. The plan for the next four months is the following: The company plans to sell 60,000 units per month for April, May, and June, and 50,000 units for March of 2021. The selling price will be set at $53 per unit. It is planned that Finished Goods inventory on March 1 will be 12,500 units at $587,500. The company follows a policy requiring ending finished goods inventory each month to be 25% of next month's sales. There is no WIP. The inventory of raw materials on March 1 was 23,625 kg. The policy is that the ending inventory amounts to 15% of next month's production requirements. The company plans $55,000 of selling & administrative expenses (including $12,000 of depreciation) plus 5% of sales for commissions. Additional data relating to manufacturing costs for April 2021 is as below: Direct Materials 3 kg per unit @ $12 per kg Direct Labour (DLH) 20 minutes per unit @ $22 per hour Variable Manufacturing Overhead allocated @ $5 per DLH Budgeted fixed manufacturing overhead is $124,000 (based on practical capacity of 62,000 units per month) and includes $40,000 of depreciation. REQUIRED: 1. Prepare the following budgets for March and April 2021: (5 marks) (i) Production Budget (ii) Material Purchases Budget