Section 1: (10 marks) . Identify and explain a product that you will manufacture. Calculate the cost to manufacture this product on a per unit basis considering the cost factors of material, labour and manufacturing overhead. This calculation will form the basis of the cost of goods sold. Determine the expected selling price of this product based on market research or based on a required gross profit. Determine the amount of operating expenses, and selling and administrative expenses that will be required each month to operate the business. (These expenses could all be considered cash basis). . Section 2: (30 marks) . Based on the information developed in Section 1: prepare a Sales Budget differentiating between cash and credit sales for each month of operations starting in January, the first month of operation, to the end of the first quarter ended March 31, 2016. You should state the collection period for the credit sales. (Usually net 30 days) . Based on the forecasted sales budget: prepare an Inventory Purchases Budget for each monthly period and set a target for the ending inventory at each month end. You should state the payment period that is expected Prepare a Cash Budget for each month based on the Sales and Inventory Budgets and the estimated operating expenses each month