Exercise 23-6 (Part Level Submission) On January 1, 2017, the Hardin Company budget committee has reached agreement on the following data for the 6 months ending June 30, 2017. Sales units First quarter 5,800; second quarter 6,000; third quarter 7,300 Ending raw materials inventory 40% of the next quarter's production requirements Ending finished goods inventory: 25% of the next quarter's expected sales units Third quarter production: 7,840 units. The ending raw materials and finished goods inventories at December 31, 2016, follow the same percentage relationships to production and sales that occur in 2017. 5 pounds of raw materials are required to make each unit of finished goods. Raw materials purchased are expected to cost $5 per pound. w (a)