May Co. makes three (3) types of cosmetic products, C1, C2 and C3. Sales forecast for next year (2021) are estimated to grow by 10% from the current year’s figure. Sales figures in the year 2020 are as follows: C1 is 8,500 units, C2 is 6000 units and C3 is 9,000 units. The anticipated selling price in year 2021 will be as follows: 

C1: $90/unit, 

C2: $130/unit

C3: $50/unit. 

At the end of the year 2020 there will be closing inventory of 600 units, 800 units and 1,000 units of C1, C2 and C3 respectively. The company plans to maintain its ending inventory level in year 2021 equivalent to three weeks of sales for each of the goods. Assume: four weeks in a month or 48 weeks in a year. There was damaged goods of 100 units in the closing inventory for each of the goods in the year 2020 which has not been accounted for in the accounting books of the company. The damages in the closing inventory in year 2021 for each of the goods are estimated as follows: C1: 66 units, C2:187 units and C3: 281 units. The following data is given about the raw materials required to produce C1, C2 and C3 and other related product costs for the year 2021. C1 C2 C3 Per unit of finished good: Direct Material - X (kg) 3 4 5 Direct Material - Y (kg) 4 6 8 Direct labour (minutes) 45 70 80 Direct Materials X Y - Desired closing inventory (kg) 2,200 1,500 - Opening inventory (kg) 1,400 2,700 Standard Prices and Rates: Direct material - X $6.00 per kg Direct material - Y $7.00 per kg Direct labour rate $15.00 per hour Production Overheads - Variable $5.00 per direct labour hour - Fixed $8.00 per direct labour hour Non-Production Overheads - Variable 5% of total revenue - Fixed $225,950

Required: Prepare the following operational budgets for the year 2021: a) Sales Budget (3 marks)

b) Production Budget (5 marks)

c) Raw Material Usage and Purchase Budget (6 marks)

d) Direct Labour Budget (3 marks)

e) Total Overheads Budgets (3 marks)