E23-4 Prepare quarterly production budgets Turney Company produces and sells automobile batteries, the heavy-duty HD-240. The 2017 ales forecast is as follows. Quarter HD-240 1 5,000 2 7,000 3 8,000 4 10,000 The January 1, 2017, inventory of HD-240 is 2,000 units. Management desires an ending inventory cach quarter equal to 40% of the next quarter's sales. Sales in the first quarter of 2018 are ekpected to be 25% higher than sales in the same quarter in 2017. Instructions Prepare quarterly production budgets for each quarter and in total for 2017. NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?". TURNEY COMPANY Production Budget For the Year Ending December 31, 2017 Product HD-240 4 Year Expected unit sales Add: Desired ending finished goods units Total required units Less: Beginning finished goods units Required production units Value ? ? Value ? Quarter 2 3 Value Value ? ? ? Value Value ? Value ? ? Value