Exercise 172 Garver Industries has budgeted the following unit sales 2020 Units anuary 10,000 February B,000 March April May 9,000 11,000 15,000 The finished goods units on hand on December 31, 2019, was 2,000 units. Each unit requires 3 pounds of raw materials that are estimated to cost an average of $4 per pound. It is the company's policy to maintain a finished goods inventory at the end of each month equal to 20% of next month's anticipated sales. They also have a policy of aintaining a materials inventory at the end of each month equal to 30% of the pounds needed for the following month's production. There were 8,64D pounds of raw materials on hand at December 31, 2019. For the first quarter of 2020, prepare a production budget GARVER INDUSTRIES Production Budget For the Quarter Ended March 31, 2020 anuarY February March Total