1. Queens Ltd produces two products Plates and Cups. Two types of materials X1 and X2 are used to manufacture these products. The following information is provided by the company for the month of May 2019. Budgeted sales Product Plate Cup Materials used Material X1 X2 There were the following stocks Product plate Product cup Material X1 Material X2 Required: Prepare the following budgets i. ii. iii. iv. Quantity 25,000 20,000 Unit cost sh. 15 7 Opening Inventory 5,500 3,500 6,000 3,500 Price sh. 320 260 Sales budget Production budget Materials usage budget in quantities Materials purchases in quantity and value. Quantity used Product Plate 3 6 Product Cup 5 4 Closing Inventory 4,000 2,500 7,000 2,000​