15. Garver Industries has budgeted the following unit sales: 2017 January February March April May Units 10.000 8,000 9,000 11,000 15,000 The finished goods units on hand on December 31, 2016, was 2,000 units. Each unit requires 3 pounds of raw materials that are estimated to cost an average of $4 per pound. It is the company's policy to maintain a finished goods inventory at the end of each month equal to 20% of next month's anticipated sales. They also have a policy of maintaining a raw materials inventory at the end of, each month equal to 30% of the pounds needed for the following month's production. There were 8,640 pounds of raw materials on hand at December 31, 2016 Instructions For the first quarter of 2017, prepare (1) a production budget and (2) a direct materials budget