A company manufactures two products, X and Y, which are sold to retailers. These products are part of the company's core offerings and are crucial…

A company manufactures two products, X and Y, which are sold to retailers. These products are part of the company's core offerings and are crucial to meeting the demands of its retail partners. The company is anticipating a specific sales volume for each product in the upcoming quarter, which is expected to play a significant role in production planning, inventory management, and overall financial forecasting. The budgeted sales volumes for the next quarter are as follows: Product Units X 64,000 Y 1,12,000 The finished goods inventory is projected to rise by 2,000 units of Product X and fall by 4,000 units of Product Y by the end of the quarter. Raw materials A and B are essential for the production of both products. The quantities needed of each raw material to produce one unit of the finished product, along with their purchase prices, are outlined in the table below: Raw Material A Raw Material B Product X 24 kg 12 kg Product Y 12 kg 9 kg Purchase price per kg 18.75 27.00 Budgeted opening inventory 1,80,000 kg 1,20,000 kg The company intends to maintain a raw material inventory at the end of the quarter equivalent to 5% of the quarter's total raw material usage budget. Additional information is provided relating to production of the products, X and Y: (i) Product X requires 16 minutes of direct labour, while Product Y requires 20 minutes of direct labour. Labour cost is 540for 1 day of 9 hours. (ii) Variable manufacturing overhead of 8 per unit is same for both the products. (iii) Variable selling and administration expenses are 10% of sales. You are required to: (i) PREPARE Production budget for the quarter(in units) (ii) PREPARE Raw material usage budget for the quarter (in kg) (iii) PREPARE Raw material purchase budget for the quarter(in kg and ₹) (iv) COMPUTE the budgeted variable cost to produce one unit of Product Y.