REQUIRED Study the information given below and draw up the Production Budget for January and February 2024. INFORMATION The number of units of Product X expected to be sold by Questor Manufacturers and the desired closing inventory (in units) for the period 01 December 2023 to 28 February 2024 is given below: Month Sales December 2023 January 2024 February 2024 1.2 REQUIRED Calculate the following from the information provided below: 1.2.1 Value of closing inventory using the first-in-first-out (FIFO) method 1.2.2 Value of issues to production using the first-in-first-out (FIFO) method 1.2.3 Value of closing inventory using the weighted average cost method INFORMATION 24 000 16 000 14 000 17 18 Opening inventory Purchased from a supplier Purchased from a supplier Returned to the supplier (see 17 August) issues to production during August (6 marks) The following transactions of Gem Manufacturers took place during August 2022 in respect of a component used in production: Aug 1.000 units at R20 per unit 3 000 units at R21 per unit 1 800 units at R22 per unit 800 units

3 800 units Closing inventory 6 000 5 400 5 000 (3 marks) (2 marks) (4 marks)