Exam - Summer 2022 Question 10 of 13 - /14 ... View Policies Current Attempt in Progress On January 1, 2022, the Wildhorse Company budgeted the following for the year ended December 31, 2022: 1. Sales units: First quarter 6,000; second quarter 7,000; third quarter 7,800; fourth quarter 8,200 units; First and second quarters of 2023: 8,600 units. 2. Ending raw materials inventory: 40% of the next quarter's production requirements. 3 . Ending finished goods inventory: 30% of the next quarter's expected sales in units. 4 . Desired production for first quarter of 2023 is 8,600 units. 3 kilograms of raw materials are needed to make each unit of finished goods. Raw materials purchased are expected to cost $3 per kilogram. Prepare a production budget and a direct materials budget by quarters for the year ended December 31, 2022. WILDHORSE COMPANY Production Budget For 2022 Quarter 1 Quarter 2 Quarter 3 APR W 21 tv