E6.13 (LO 4, 5), AP The QuicPot product line of Housewares, Inc., has been making money like mad. The company found a way to fill a need in the marketplace, recognizing that many individuals want to make a home-cooked meal but simply didn't have the time. The manager of this product line secured high-quality. quick-cooking pots early on in this product craze, establishing a competitive advantage in the marketplace. Another key to this company's success is that it sells directly to consumers. Because the manager is concerned that competitors might try to drive a wedge between Housewares and its preferred supplier, he is committed to holding an ending inventory of Quic Pots equal to 75% of its next month's budgeted sales. For the current calendar year, the purchase agreement specifies a price to Housewares of $39 each. Housewares sells the pots directly to consumers for $59 each. On March 31, the company held just enough Quic Pots in inventory to meet the manager's desired level. Budgeted sales for the next four months, April through July, are 2,200, 2,400,2,300, and 2,100 units, respectively. Required a. Prepare the budgeted cost of merchandise purchases for the QuicPot product line for the second quarter, presenting amounts for each month and for the quarter overall. Also prepare the COGS schedule for the Quic Pot product line for the second quarter in total. b. Outline the inventory section of the balance sheet for the Quic Pot products at the end of the second quarter