1 2 3 Mandelbaum Company is preparing its master budget for 2021. Relevant data pertaining to its sales, production, and direct materials budgets are as follows. Sales: Sales for the year are expected to total 1,700,000 units. Quarterly sales are 21%, 25%, 26%, and 28%, respectively. The sales price is expected to be $40 per unit for the first three quarters and $46 per unit beginning in the fourth quarter. Sales in the first quarter of 2022 are expected to be 10% higher than the budgeted sales for the first quarter of 2021. Production: Management desires to maintain the ending finished goods inventories at 25% of the next quarter's budgeted sales volume. Instructions: Prepare the sales and production budgets, by quarters, for 2021 (complete the highlighted cells). YOU MUST USE EXCEL 5 FORMULAS AND FEEDS FOR ALL CALCULATIONS. MANUAL ENTRIES WILL NOT EARN CREDIT. 6 7 8 9 Mandelbaum Company Sales Budget For the Year Ending December 31, 2021 10 11 12 Expected Unit Sales 13 Unit Selling Price 14 Total 15 16 17 18 19 20 21 22 Expected Unit Sales 23 Add: Desired Ending Inventory 24 Total Required Units 25 Less: Beginning FG Inventory 26 Purchases 27 28 29 Quarter 2 3 Year Mandelbaum Company Production Budget For the Year Ending December 31, 2021 Quarter 2 3 Year