Diane Buswell is preparing the 2017 budget for one of Current Designs' rotomolded kayaks. Extensive meetings with members of the sales department and executive team have resulted in the following unit sales projections tor 2017. Current Designs' policy is to have finished goods ending inventory in a quarter equal to 20% of the next quarter's anticipated sales. Preliminary sales projections for 2018 are 1, 100 units for the first quarter and 1.500 units for the second quarter. Ending inventory of finished goods at December 31, 2016, will be 200 rotomolded kayaks. Production of each kayak requires 54 pounds of polyethylene powder and a finishing kit (rope, seat, bardware, etc.). Company policy is that the ending inventory of polyethylene powder should be 25% of the amount n for production in the next quarter. Assume that the ending inventory of polyethylene powder on December 31, 2016, is 19, 400 pounds. The finishing kits can be assembled as they are needed. As a result, Current Designs does not maintain a significant inventory of the finishing kits. The polyethylene powder used in these kayaks costs $1.50 per pound, and the finishing kits cost $170 each. Production of a single kayak requires 2 hours of time by more experienced, type 1 employees and 3 hours of finishing time by type II employees. The type I employees are paid $15 per hour, and the type II employees are paid S12 per honur. Selling and administrative expenses for this are expected t line be S45 per unit sold plus $7.500 per quarter. Manufacturing overhead is assigned at 50% of labor costs. Instructions Prepare the production budget, direct material budget, direct labor budget, manufacturing overhead budget, and selling and administrative budget for this product line by quarter and in total for 2017. Diane Buswell is preparing the 2017 budget for one of Current Designs' rotomolded kayaks. Extensive meetings with members of the sales department and executive team have resulted in the following unit sales projections tor 2017. Current Designs' policy is to have finished goods ending inventory in a quarter equal to 20% of the next quarter's anticipated sales. Preliminary sales projections for 2018 are 1, 100 units for the first quarter and 1.500 units for the second quarter. Ending inventory of finished goods at December 31, 2016, will be 200 rotomolded kayaks. Production of each kayak requires 54 pounds of polyethylene powder and a finishing kit (rope, seat, bardware, etc.). Company policy is that the ending inventory of polyethylene powder should be 25% of the amount n for production in the next quarter. Assume that the ending inventory of polyethylene powder on December 31, 2016, is 19, 400 pounds. The finishing kits can be assembled as they are needed. As a result, Current Designs does not maintain a significant inventory of the finishing kits. The polyethylene powder used in these kayaks costs $1.50 per pound, and the finishing kits cost $170 each. Production of a single kayak requires 2 hours of time by more experienced, type 1 employees and 3 hours of finishing time by type II employees. The type I employees are paid $15 per hour, and the type II employees are paid S12 per honur. Selling and administrative expenses for this are expected t line be S45 per unit sold plus $7.500 per quarter. Manufacturing overhead is assigned at 50% of labor costs. Instructions Prepare the production budget, direct material budget, direct labor budget, manufacturing overhead budget, and selling and administrative budget for this product line by quarter and in total for 2017