#77 IIHS Course Mkate Ltd. produces chocolate chip cookies. Raw materials inventory includes flour, sugar, and chocolate chips at standard cost of Shs. 20.00 per pound. Mkate Ltd. uses 1/5 of a pound of raw materials per cookie. Mkate Ltd. anticipates quarterly sales as follows: Budgeted Sales, 1st quarter 2021 400,000 Cookies Budgeted Sales, 2nd quarter 2021 500,000 Cookies Budgeted Sales, 3rd quarter 2021 350,000 Cookies Budgeted Sales, 4th quarter 2021 600,000 Cookies Budgeted Sales, 1st quarter 2022 400,000 Cookies Beginning finished goods inventory is 90,000 cookies. Beginning raw materials inventory is 6,000 pounds. Target raw materials = 60% of next quarter's material needs. Target finished goods inventory is 40% of next quarter's sales. What is the forecasted production for the first quarter, 2021? Select one: A. 345,000