6 18 29 32 33 34 35 36 37 38 39 Hank Manufacturing makes cleaning solvent sold in large containers with a plastic liner. Each container consists of: 6 gallons of chemicals 1 plastic liner Planned production (in units) for next quarter is: January February March 43,800 units 41,000 units 50,250 units Company policy requires that ending inventories of raw materials for each month be 15% of the next month's production needs. The policy was met for the ending inventory of December in the prior year. The cost of one gallon of chemicals is $2.00. Th cost of one liner is $1.60. 1. Calculate the ending inventory of chemicals (in gallons) for December of the prior year, and then for January and February. (3 points-must use a formula/calculation in each cell) December, ending inventory January, ending inventory gallons gallons gallons February, ending inventory 2. Calculate the ending inventory of plastic coating (in units) for December of the prior year, and then for January and February. (3 points-must use a formula/calculation in each cell) December, ending inventory January, ending inventory liners liners liners February, ending inventory 3. Complete a direct materials purchases budget for the chemicals (in gallons) for January. (10 points-must use a formula/calculation when necessary). Hint: Remember to use accounting underlining! Hank Manufacturing Direct Materials Purchases Budget for Chemicals For the Month of January Production (in units) Gallons per container Gallons for production Desired ending inventory Inventory Needed Less: Beg. Inventory Total Purchases Price per gallon Dollar Value of Purchases