Retained earnings 294,500 94,500 Total liabilities and stockholders' RM826,500 equity Selling price for each wheel is RM30 per unit. Budgeted sales unit for 2022 are: First quarter 15,000 Second quarter 16,000 Third quarter 18,000 BulatRimba will have no finished goods (wheel) and materials (plastic and rims) inventories at the beginning of the year. Management desires 5,000 kg of plastic at the end of the first quarter and 6,000 kg at the end of the second quarter. Each wheel takes 2kg of plastic. BulatRimba should have 2,000 rims at the end of the first quarter and 2,500 at the end of the second quarter. Finished inventory should total 1,000 wheels at the end of the first quarter and 1,500 at the end of the second quarter. Direct Materials Direct Labour Plastic 2kg @ RM3 0.5 hour Rims 1 each @ RM2 Variable factory overhead is applied at the rate of RM3 per direct labour hour for each finished unit. Fixed factory overhead is RM170,000 per quarter, including non-cash expenditures of RM54,000 and is allocated on the total number of units completed direct labour averages RM20 per hour. Required: For the first quarter of 2022, prepare the following: (a) Sales budget