A B C D E F G H 1 Master Budget and Responsibility Accounting (10 marks total) 2 3 Calico produces two products: Basic Leather and Fancy Leather. Use the information below to answer the requirements. 4 5 Basic Leather Fancy Leather 6 Expected sales (units) 40000 20000 7 Expected ending inventory 8000 4000 8 Current beginning inventory 2000 1600 9 10 Each product has two labour operations: cutting and dyeing. Information on labour is found below: 11 12 Basic Leather Fancy Leather 13 Direct labour hours for cutting process 2 2 14 Direct labour hours for dyeing process N 4 15 16 Cutting Dyeing 17 Direct labour rate for cutting ($/direct labour hour) $ 40.00 S 50.00 per direct labour hour 18 19 Required: 20 Prepare a production budget and direct labour budget for basic leather and fancy leather. 21