Britton Corporation manufactures and sells two products, Thingone and Thingtwo. In July, 20A, the company s Budget Department gathered the following data to project sales and budget requirement for 20B: Projected sales: Inventories (in units): To produce one unit of Thingone and Thingtwo, the following raw materials are used: Projected data for 20B with respect to raw materials are as follows: Projected direct labor requirements and rates for 20B are as follows: Factory overhead is applied at the rate of $2 per direct labor hour. Required: Based on the projections and budget requirements for 20B for Thingone and Thingtwo, prepare the following 20B budgets: (1) Sales budget (2) Production budget (3) Raw materials purchases budget (4) Direct labor budget (5) Budgeted finished goods inventory at December 31, 20B
