Ch 22 - Budgeting Problem (25 points) A company has the following data to prepare the budgets for 2023: Budgeted Sales units: 1* Qtr 5,000; 2nd Qtr 5,500; 3rd Qtr 6,000 Desired Ending Finished Goods Inventory: 20% of next Qtr Sales Desired Ending Raw Material Inventory: 30% of next Qtr Production Beginning Inventory Balances for Production and Material follow the same percentage relationships Each unit requires 2 pounds of material, at $5 per pound Answer the following questions based on the data above in developing Production and Direct Material budgets: 1. Compute the Production Units Required for Qtr 1 (7 pts) 2. Compute the Production Units Required for Qtr 2 (7 pts) 3. Compute the total pounds of Direct Material Purchases for Qr 1 (8 pts) 4. Compute the total cost of Direct Material Purchases for Otr 1 (3 pts)