You have completed the budgets for the production inputs for 2022, summarized below. Direct materials Direct labour Manufacturing overhead Direct materials January February March April May June $30,624 $50,945 $75,547 $76,000 $63,230 $50,584 $30,019 $49,940 $74,055 $74,499 $61,981 $49,585 $12,615 $20,986 $31,120 $31,307 $26,046 $20,837 July August September October November December $41,678 $32,772 $29,923 $27,608 $23,867 $22,528 $40,855 $32,126 $29,332 $27,062 $23,395 $22,083 Manufacturing overhead $17,169 $13,500 $12,326 $11,372 $9,832 Direct labour The cost per unit of the opening inventory in January is expected to be $705 per unit. You were also provided with the following to use for the selling and administrative budget. Prior-year monthly expense information and assumptions: Shipping costs Wages and salaries Depreciation Utilities Insurance Miscellaneous $45 per unit (no expected change) $20,000 expected to increase by 3% inflation only at the beginning of the year and then remain constant $8,200 expected to stay the same $7,100 expected to increase by 3% in February and then remain constant $9,280 $4,100 expected to increase by 2% on renewal in April and then remain constant $2,900 expected to stay the same a) Prepare the monthly cost of goods sold budget for 2022. b) Prepare the monthly selling and administrative expenses budget for 2022. c) Prepare the annual budgeted net income statement for 2022, ignoring income taxes based upon the information provided.