Exercise 23-6 (Part Level Submission) On January 1, 2017, the Hardin Company budget Sales units: 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 committee has reached agreement on the following data for the 6 months ending June 30, 2017 First quarter S,500; second quarter 6,600; third quarter 7,300 7,740 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. Prepare a production budget by quarters for the 6-month period ended June 30, 2017 HARDIN COMPANY Production Budget Quarter Year