1. Sales Budget Johnson Inc. sells high-tech staplers. Johnson is preparing budgets for the quarter ending September 30, 2017. The sales price is $14.00 per stapler. Johnson expects the following number of units to be sold in the coming year: July August September October 10,000 25,000 15,000 12,500 Required: Prepare a sales budget for the third quarter of the coming year, showing units and sales revenue by month and in total for the quarter Check Figure: Total projected sales revenue for the quarter- $700,000 2. Johnson wants ending inventory to be 15 percent of the next month's budgeted sales in units. 4,000 units were on hand June 30. Required: Prepare a production budget for the third quarter of the year. Show the number of staplers that should be produced each month as well as for the quarter in total. Check Figure: Total budgeted product units to produce for the quarter - 47,875 3. Materials Purchases Budget: Three sheets of metal are required to produce a single stapler. Johnson wants to have materials on hand at the end of each month equal to 20 percent of the following month's production needs. The materials inventory on June 30 is 8,000 sheets of metal. October production is budgeted for 15,000 units. Required: Prepare a direct materials purchases budget for metal sheets for the quarter ending September 30. Show how many sheets of metal should be purchased each month as well as for the quarter in total. Check Figure: Total budgeted units of material to purchase for the quarter -144,62