1. Ivanhoe Company estimates that unit sales will be 8,600 in quarter 1, 12,040 in quarter 2, 12,900 in quarter 3, and 15,480 in quarter 4. The sales price is $70 per unit. Management desires to have an ending finished goods inventory equal to 25% of the next quarters expected unit sales. Prepare a production budget by quarters for the first 6 months of 2022.

2. Wildhorse Company has 2,440 pounds of raw materials in its December 31, 2021, ending inventory. Required production for January and February of 2022 are 4,880 and 6,100 units, respectively. 2 pounds of raw materials are needed for each unit, and the estimated cost per pound is $6. Management desires an ending inventory equal to 25% of next months materials requirements. Prepare the direct materials budget for January.

3. Oriole Electronics Inc. produces and sells two models of pocket calculators, XQ-103 and XQ-104. The calculators sell for $10 and $20, respectively. Because of the intense competition Oriole faces, management budgets sales semiannually. Its projections for the first 2 quarters of 2022 are as follows.

		Unit Sales
Product		Quarter 1		Quarter 2
XQ-103		22,000		24,200
XQ-104		13,200		16,500

No changes in selling prices are anticipated. Prepare a sales budget for the 2 quarters ending June 30, 2022. List the products and show for each quarter and for the 6 months, units, selling price, and total sales by product and in total.