ASAP. NEED PRODUCTION BUDGET THROUGH INCOME STATEMENT DONE

b. Company policy calls for a given quarter's ending finished goods inventory to equal 50% of the next quarter's expected unit sales. The finished goods inventory at the end of the prior year is 900 units, which complies with the policy. The product's manufacturing cost is $191 per unit, including per unit costs of $112 for materials (8 lbs. at $14 per lb.) . $60 for direct labor (3 hours $20 direct labor rate per hour). $15 for variable overhead, and $4 for fixed overhead. Annual fixed overhead consists, incurred evenly throughout the year, consist of depreciation on production equipment, $10,400; factory utilities, $13,000, and other factory overhead of $2,600. Company policy also calls for a given quarter's ending raw materials inventory to equal 40% of next quarter's expected materials needed for production. The prior year-end inventory is 4,800 lbs of materials, which complies with the policy. The company expects to have 7,680 lbs. of materials in inventory at year-end. The company has no work in process inventory at the end of any quarter C. d Sales representatives' commissions are 16% of sales and are paid in the quarter of the sales. The sales manager's quarterly salary will be $104,000 in the first three quarters of the year, and $111,000 in the final quarter. Quarterly general and administrative expenses include $44,000 administrative salaries, rent expense of $26,000 per quarter, insurance expense of $21,000 per quarter, straight- line depreciation of $21,000 per quarter, and 1% monthly interest on the $300,000 long-term note payable (12% annually). f. Income taxes will be assessed at 30%, and are paid in the quarter incurred. Sales Budget Production Budget Direct Mtis Budget Direct Lbr Budget Factory OH Selling Exp Budget Budget Admin Exp Budget Cost of Goods Sold Income Statement Requirements Prepare the Sales Budget for Guman Inc., Sales for the final quarter of the prior year total 2,000 units. Expected sales (In units) for the current year are: 1,800 (Quarter 1), 1,200 (Quarlar 2), 1,600 (Quarter 3), and 1,600 (Quarter 4). Sales for the first quarter of the following year total 2,400 units. The selling price is $530 per unit in the first three quarters of the year, and $560 per unit in the final quarter. Show A Guman in Sales Budget 2010 First Second O Thindi Fourth air Total 1,500 1.200 e 1.000 1.600 $$ 530 5305 530$ 550 3 054,000 036.000 348.000 S 195.0005 3,234.000 Budgeted (un) Total budgeted sales dollars)