Exercise 13-34 (Algo) Estimate Production and Materials Requirements (LO 13-3) Cherboneou Novelves produces drink coosters (among many other products) During the current yeor (year 0 ), the company sold 531,000 units (packages of 6 coasters). In the coming year (year 1), the company expects to sell 562,000 units, and, in year 2 , it expects to sell 756,000 units. The target ending finished goods inventory for each month is equal to the next month's sales. However, becouse of production issues, the ending inventory in the current year is expected to be only 17,500 units Each unit requires 0.5 pound of cork. At the end of the current year, monagement expects to have 21,500 pounds of cork in inventory. Management has set a target to have cark on hand equal to one half of next month's sales requirements. Soles and production take place evenly throughout the year Required: a. Campute the total targered production of the finished coaster for the coming year b. Compute the required amount of cork to be purchased for the coming yeat