You will need to make up all figures by yourself – they are not inlcuded you simply input your own figures throughout Manufacture a basketball. You do not actually need to manufacture something, but will proceed through the assignment as if you were planning on manufacturing the item you have selected. The product should require materials and labor and be something that you are familiar with in process from start to finish. The product must be useful and marketable. raw materials will include: cost of rubber for internal bladder cost of air tip cost of sting to wrap internal bladder cost of rubber for 6 external flaps cost of embossed logo for outside of ball Perform the following steps: 1) Prepare the following budgets for 1 quarter, broken down monthly, regarding your chosen item: estimated sales budget estimated direct materials budget estimated direct labors budget estimated manufacturing overhead budget estimated selling and administrative expenses estimated income statement. 2)Classify all manufacturing costs and selling and administrative expenses as either variable or fixed. 3) Prepare a contribution margin income statement separating all variable and fixed costs into their own categories. 4) Determine the breakeven point in units and dollars. Also determine the number of units and dollars that need to be sold to make a target profit of $5,000 a month. Answer the following question: If you had to improve the bottom line, what would you do and what concerns would you have going forward? Choose a piece of equipment that you might consider purchasing to increase production of your item and address the following questions: What types of capital budgeting factors would you look at when deciding whether to do this? What would be the relevant costs that you would consider in this decision?