Coronado Furniture builds high-end hand-made dining tables. Attacus Simmons, the company's owner, has developed the following sales forecast for 2022 Ist Quarter 2nd Quarter Bid Quarter 4th Quarter | Forecasted sales tables 2,600 3.000 2,800 1.900 Because of the time needed to create each table. Coronado maintains an ending Finished Goods Inventory of 20% of the following quarter's baudpeted sales Coronado has been following this inventory policy for several years. The company ended 2021 withi 450 tables antand Ther standard cost card forstable is as follow Standard Quantity Standard Price Total Standard Cost 20 board feet $/bcard foot $80 4 square Square 32 American Cherry wood American cherry turniru square Direct labels Variable overhead Fianca anestad 8 DLH $15/DUH 120 BDLH $45/DLH 360 BDLH 512/DLH 96 $688 Coronado maintains inventory of American cherry wood equal to 10% of the following quarter's production needs. On December 31, 2021. Coronado's physical inventory count showed 4,800 board feet of American cherry. Due to an anticipated price increase in 2023, managers want to have 5,000 board feet of American cherry wood in inventory on December 31, 2022. Prepare Coronado's 2022 direct materials purchases budget for American cherry wood. Direct Materials Purchases Budget 2nd Quarter 3rd Quarter 1 Quarter Budgeted production Standard board feet Production needs Budetted ending Inventory Total DM required Beginning inventory Budgeted purchases Standard price per board foot Budgeted purchases cost V $ $ $ T. Coronado maintains inventory of American cherry wood equal to 10% of the following quarter's production needs. On December 31, 2021. Coronado's physical inventory count showed 4,800 board feet of American cherry. Due to an anticipated price increase in 2023, managers want to have 5,000 board feet of American cherry wood in inventory on December 31, 2022. Prepare Coronado's 2022 direct materials purchases budget for American cherry wood, Direct Materials Purchases Budget 2nd Quarter 3rd Quarter 4th Quarter Annual 1 LINE ] ] ] $ $ e Textbook and Media Save for Later Attempts: unlimited Submit