Current Attempt in Progress On January 1, 2020, the Hardin Company budget committee has reached agreement on the following data for the 6 months ending June 30, 2020. Sales units: Ending raw materials inventory: Ending finished goods inventory: Third-quarter production: First quarter 5,200; second quarter 6,000, third quarter 7,000. 40% of the next quarter's production requirements. 25% of the next quarter's expected sales units. 7,630 units. The ending raw materials and finished goods inventories at December 31, 2019, follow the same percentage relationships to production and sales that occur in 2020. 3 pounds of raw materials are required to make each unit of finished goods. Raw materials purchased are expected to cost $4 per pound. Prepare a production budget by quarters for the 6-month period ended June 30, 2020. HARDIN COMPANY Production Budget For the Six Months Ending June 30, 2020 1 Expected Unit Sales Add : Desired Ending Finished Goods Unit Total Required Units Less : Beginning Finished Goods Unit 1300 Required Production Units eTextbook and Media 5200 1500 6700 5400 Quarter 2 1500 6000 1750 7750 6250 Prepare a direct materials budget by quarters for the 6-month period ended June 30, 2020. HARDIN COMPANY Direct Materials Budget Total Pounds Needed for Production Beginning Direct Materials (Pounds) Direct Labor Cost Per Hour Direct Materials Purchases Desired Ending Direct Materials (Pounds) Total Cost of Direct Materials Purchases Units to be Produced Total Direct Labor Cost Total Required Direct Labor Hours Cost Per Pound Total Materials Required Direct Materials Per Unit Direct Labor Time Per Unit < > > Quarter 1 2 S