Question #1 - Operations Budgets (22 marks) The Widget Processing Company produces two types of Widgets, A and B. They are projecting to sell 3,700 units of Widget A for $25/unit and 7,300 units of Widget B for $52/unit. They currently have in inventory 300 units of Widget A and 400 units of Widget B. The desired ending inventory is Widget A 200 units and Widget B is 500 units. Widget A uses 0.25 of material C and 0.50 of material D while Widget B uses 0.50 of material C and 0.25 of Material D. The unit price of material C is $7.50 and material D is 5.00. The desired ending inventories for material C and D are 1,200 units and 500 units respectively. The opening inventory for material C is 800 units and D is 300 units. The time is takes to produce widget A in Moulding is 0.20 hours and in Assembly is 0.50 hours. Widget B is 0.50 hours and 0.20 hours respectively. The hourly rate for Moulding is $20.00 per hour and Assembly is $25.00 hour. Required: a. Prepare a Sales Budget (4 marks) b. Prepare a Production Budget (5 marks) c. Prepare a Materials Purchases Budget (8 marks) d. Prepare a Direct Labour Budget