Question 1 [30 Marks] Required Use the relevant information provided above to prepare the following budgets for 2020: 1.1 Sales budget ( 2 marks) 1.2 Production budget (10 marks) 1.3 Direct materials purchases budget ( 8 marks) 1.4 Direct labour budget (10 marks) END OF PAPERInventories of finished goods: Closing Opening Inventory Inventory Units Unit Price Units Product A 400 95 200 Product B 500 75 400Thandeka Ltd manufactures two products. The following information is available for the financial year ended 31 December 2020: Sales: Product South Africa Zimbabwe Product A 6000 5000 Product B 9000 6000 The selling prices per unit are R150 and R100 for Product A and Product B respectively. All goods are sold for cash. Materials quantity requirements and unit costs: Material Tap Kap Product A 3Kg 1Kg Product B 2Kg 1Kg Material cost per kg R14 R2,50 Labour requirements and hourly rates: Department A Department B Product A 2 hours 0,5 hours Product B 1,75 hours 0,5 hours Hourly rate R10,00 R9,00 Inventories of materials: Tap Kap Opening inventory (01 January 2020) 10000 kg 2000 kg Closing inventory (31 December 2020 12000 kg 2500 kg