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Sheffield Chemicals has developed a new window cleaner that requires two ingredients, AM972 and CA38. Based on forecasted sales, Sheffield has developed the following budgeted production for the coming year, 1st Quarter 4,000 Forecasted production (gallons) 2nd Quarter 7,000 3rd Quarter 9,500 1st Quarter Next Year 6,000 4th Quarter 13,000 Each gallon of window cleaner requires 100 ounces of AM972 and 28 ounces of CA38. An ounce of AM972 costs Sheffield $0.15. An ounce of CA38 costs the company $0.25. Sheffield's inventory policy requires ending inventory equal to 20% of the next quarter's production needs. At the beginning of the year, Sheffield expects to have 80,000 ounces of AM972 and 30,000 ounces of CA38 on hand Prepare Sheffield's AM972 purchases budget for the coming year. (Enter price per ounce to 2 decimal places, ex. 0.35.) 1st Quarter 2nd Quarter 3rd Quarter Standard ounces per gallon 4000 7000 Standard price per ounce V 100 100 Total DM required (ounces) 400000 700000 9 Production needs Budgeted ending inventory Beginning inventory Budgeted purchases (ounces) Budgeted purchases cost $ $ $ Budgeted production $ $ $ Sheffield Chemicals has developed a new window cleaner that requires two ingredients, AM972 and CA38. Based on forecasted sales, Sheffield has developed the following budgeted production for the coming year, 1st Quarter 4,000 2nd Quarter 7,000 3rd Quarter 9,500 4th Quarter 13,000 1st Quarter Next Year 6,000 Forecasted production (gallons) Each gallon of window cleaner requires 100 ounces of AM972 and 28 ounces of CA38. An ounce of AM972 costs Sheffield $0.15. An ounce of CA38 costs the company $0.25. Sheffield's inventory policy requires ending inventory equal to 20% of the next quarter's production needs. At the beginning of the year, Sheffield expects to have 80,000 ounces of AM972 and 30,000 ounces of CA38 on hand. Prepare Sheffield's AM972 purchases budget for the coming year. (Enter price per ounce to 2 decimal places, eg. 0.35.) 2nd Quarter 3rd Quarter 4th Quarter Annual 7000 9500 13000 6000 100 100 100 100 700000 950000 1300000 600000 $ $