Archer Company produces two products: the custom and the basic. The custom sells for $30, and the basic sells for $8. Projected sales of the two models for the coming four quarters are given below. Custom Basic First quarter 12,000 90,000 Second quarter 14,200 88,600 Third quarter 16,500 92,000 Fourth quarter 20,000 91,400 The president of the company believes that the projected sales are realistic and can be achieved by the company. In the factory, the production supervisor has received the projected sales figures and gathered information needed to compile production budgets. He found that 800 customs and 1,140 basics were in inventory on January 1. Company policy dictates that ending inventory should equal 20 percent of the next quarter's sales for customs and 10 percent of next quarter's sales for basics. Required: Question Content Area 1. Prepare a sales budget for each quarter and for the year in total. Show sales by product and in total for each time period. Archer Company Sales Budget For the Year Ended December 31 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year Custom: Units fill in the blank 701f17ffafc4066_1 fill in the blank 701f17ffafc4066_2 fill in the blank 701f17ffafc4066_3 fill in the blank 701f17ffafc4066_4 fill in the blank 701f17ffafc4066_5 Unit price $fill in the blank 701f17ffafc4066_6 $fill in the blank 701f17ffafc4066_7 $fill in the blank 701f17ffafc4066_8 $fill in the blank 701f17ffafc4066_9 $fill in the blank 701f17ffafc4066_10 Sales $fill in the blank 701f17ffafc4066_11 $fill in the blank 701f17ffafc4066_12 $fill in the blank 701f17ffafc4066_13 $fill in the blank 701f17ffafc4066_14 $fill in the blank 701f17ffafc4066_15 Basic: Units fill in the blank 701f17ffafc4066_16 fill in the blank 701f17ffafc4066_17 fill in the blank 701f17ffafc4066_18 fill in the blank 701f17ffafc4066_19 fill in the blank 701f17ffafc4066_20 Unit price $fill in the blank 701f17ffafc4066_21 $fill in the blank 701f17ffafc4066_22 $fill in the blank 701f17ffafc4066_23 $fill in the blank 701f17ffafc4066_24 $fill in the blank 701f17ffafc4066_25 Sales $fill in the blank 701f17ffafc4066_26 $fill in the blank 701f17ffafc4066_27 $fill in the blank 701f17ffafc4066_28 $fill in the blank 701f17ffafc4066_29 $fill in the blank 701f17ffafc4066_30 Total Sales $fill in the blank 701f17ffafc4066_31 $fill in the blank 701f17ffafc4066_32 $fill in the blank 701f17ffafc4066_33 $fill in the blank 701f17ffafc4066_34 $fill in the blank 701f17ffafc4066_35 Question Content Area 2. Prepare a separate production budget for each product for each of the first three quarters of the year. Production budget for customs: Archer Company Production Budget for Customs First Three Quarters of the Year Quarter 1 Quarter 2 Quarter 3 Unit sales fill in the blank 3395eaf5107507a_1 fill in the blank 3395eaf5107507a_2 fill in the blank 3395eaf5107507a_3 - Select - - Select - - Select - Total needed fill in the blank 3395eaf5107507a_8 fill in the blank 3395eaf5107507a_9 fill in the blank 3395eaf5107507a_10 - Select - - Select - - Select - Units produced fill in the blank 3395eaf5107507a_15 fill in the blank 3395eaf5107507a_16 fill in the blank 3395eaf5107507a_17 Question Content Area Production budget for basics: Archer Company Production Budget for Basics First Three Quarters of the Year Quarter 1 Quarter 2 Quarter 3 Unit sales fill in the blank 04585afb8fa3f84_1 fill in the blank 04585afb8fa3f84_2 fill in the blank 04585afb8fa3f84_3 - Select - - Select - - Select - Total needed fill in the blank 04585afb8fa3f84_8 fill in the blank 04585afb8fa3f84_9 fill in the blank 04585afb8fa3f84_10 - Select - - Select - - Select - Units produced fill in the blank 04585afb8fa3f84_15 fill in the blank 04585afb8fa3f84_16 fill in the blank 04585afb8fa3f84_17