Fill in the Blank Question You will need a piece of paper, pencil and calculator and create a production and purchase budget based on the information provided below. Once you have completed the budget transfer the totals to the blank spaces provided. Dunlap Products Limited of Shenzhen, China, manufactures and distributes toys throughout Southeast Asia. Three cubic centimetres (cc) of solvent Q80 are required to manufacture each unit of Fineclay, one of the company's products. The company is now planning raw materials needs for the third quarter, the quarter in which peak sales of Fineclay occur. To keep production and sales moving smoothly, the company has the following inventory requirements: a. The finished goods inventory on hand at the end of each month must be equal to 3,750 units of Fineclay plus 20% of the next month's sales. The finished goods inventory on June 30 is budgeted to be 12,500 units. b. The company maintains no work-in-process inventories. A sales budget for Fineclay for the last six months of the year follows: Budgeted Sales in Units July 43,750 August 50,000 September 62,500 October 37,500 November 25,000 December 12,500 Required: 1. Prepare a production budget for Fineclay for the months of July to October. 2. Prepare a budget showing the quantity of solvent Q80 to be purchased for July, August, and September, and for the first quarter in total. You will need a piece of paper, pencil and calculator and create a production and purchase budget based on the information provided. Once you have completed the budget transfer the totals to the blank spaces provided. Fill in the Blank - only enter the amount. DO NOT ENTER $ SIGNS OR COMMA 1. The required production budget for July is 2. The required production budget for August is 3. The required production budget for September is 4. The required production budget for October is 5. The required purchase budget for July is 6. The required purchase budget for August is 7. The required purchase budget for September is 8. The required purchase budget for first quarater is Blank 1: Blank 2: Blank 3: Blank 4: Blank 5: Blank 6: Blank 7: Blank 8