Garver Industries has budgeted the following unit sales: 2020 Units January 8,000 February 10,000 March 9,000 April 11,000 May 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. Instructions For the first quarter of 2020, prepare a production budget.