You have been appointed by the management of TitasofCebu Inc, a company that manufacture cosmetics to be imported in Japan, as their budget committee. The information below is given in order for you to prepare the budget of the company. INFORMATIDNIU1/202ll SALES 12.31.2020 1,000 units 03.31.2022 2,000 units Sales Forecast per quarter: Product 9; 92 LE M 36 Palette [units] 2,100 1,300 1,500 3,000 *Zl'he company foresee that the sales for the 2"\" and 43' quarter will increase by 15%; Selling prioe is Wunit. INVENTDRIES a. Direct Materials: DM Beginning Inventories 00 Glycol 100 DM Ending Inventories: 30% of the current quarter's production requirement. b. Finished Goods: Ending Inventory is 30% of next quarter's budgeted sales DIRECT MATERIALS 8: LABOR REQUIREMENTS Cocoa Powder 2 kg @ $ 2 Silica 3 kg @$ 4 Glycol 1 kg @ $ 1 Production workers 4 hrs @ $ 5 FACTORY OVERHEAD {cost per quarter]I Variable Factory supplies 4 per unit Electricity .60 per hour Repairs and Maintenance $3,000 _ _ _