Current Designs CD9 Diane Buswell is preparing the 2020 budget for one of Current Designs' rotomolded kayaks Extensive meetings with members of the sales department and executive team have resulted in h lowing unit sales projections for 2020 Quarter 1 Quarter 2 Quarter 3 Quarter 4 1,000 kayaks 1,500 kayaks 750 kayaks 750 kayaks Do Current Designs' policy is to have finished goods ending inventory in a quarter equal to 20% of the neu quarter's anticipated sales. Preliminary sales projections for 2021 are 1,100 units for the first quarter and 1,500 units for the second quarter. Ending inventory of finished goods at December 31, 2019, will be 200 rotomolded kayaks. Production of each kayak requires 54 pounds of polyethylene powder and a finishing kit (rope, sea, hardware, etc.). Company policy is that the ending inventory of polyethylene powder should be 25% of the amount needed for production in the next quarter. Assume that the ending inventory of polyethylene powder on December 31, 2019, is 14,850 pounds. The finishing kits can be assembled as they are needed As a result, Current Designs does not maintain a significant inventory of the finishing kits. The polyethylene powder used in these kayaks costs $1.50 per pound, and the finishing kits co $170 each. Production of a single kayak requires 2 hours of time by more experienced, type I employes and 3 hours of finishing time by type II employees. The type I employees are paid $15 per hour, and type II employees are paid $12 per hour. Selling and administrative expenses for this line are expected to be $45 per unit sold plus $7.50 quarter. Manufacturing overhead is assigned at 150% of labor costs. Instructions Prepare the production budget, direct materials budget, direct labor budget, manufacturing overhead budget, and selling and administrative budget for this product line by quarter and in total for 2020