QUESTION 3 Total 20 marks Bulli Ltd. produces a single product and sells it at a price of $40 per unit. The company has the following sales estimation for the next six-month period from July to December: Month Unit Sales July August September October 20,000 25,000 30,000 25,000 35,000 40,000 November December The company's policy is to keep ending inventory of finished goods that is equal to 15% of the unit sales for the next month, including for the month of June. Five kilograms of raw materials are required for each unit of finished goods produced. Each kilogram of raw material costs $9. Inventory ending levels for raw materials are equal to 20% of the production needs for the next month, including for the month of June. Required (show your working): (a) Prepare sales budgets in units and dollars for July to September (3 marks) (b) Prepare production budgets in units for July and August (6 marks) (c) Prepare raw materials usage budget in kilograms and dollars for August (4 marks) (d) Prepare raw materials purchases budgets (in kilograms and dollars) for August (7 marks)