Garver Industries has budgeted the following unit sales: 2017 Units January 10,000 February 8,000 March 9,000 April11,000 May 15,000 The finished goods units on hand on December 31, 2016, 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 maintaining a raw materials inventory at the end of each month equal to 30% of the pounds needed for the following month's production. There were 8,640 pounds of raw materials on hand at December 31.2016 For the first quarter of 2017, prepare a production budget GARVER INDUSTRIES Production Budget For the Quarter Ended March 31, 2017 January March Total 10000 1600 11600 2000 8000 9000 cted unit sales red ending finished goods units l required units 1800 2200 11200 Beginning finished goods units 1600 9600 9400 ired production units For the first quarter of 2017, prepare a direct materials budget GARVER INDUSTRIES Direct Materials Budget For the Quarter Ended March 31, 2017 January February March