Homework: Chapter 9 Homework Question 2, E9-23A (sim. Part 1 of 2 HW Score: 0%, 0 of 25 points Points: 0 of 2 Save McKnight Industries manufactures a popular interactive stuffed animal for children that requires four computer chips inside each toy. The company pays $3 for each computer chip. To help to guard against stockouts of the computer chip, McKnight Industries has a policy that states that the ending inventory of computer chips should be at least 30% of the following month's production noods. The production schedule for the first four months of the year is as follows: (Click the icon to view the production schedule.) Requirement Prepare a direct materials budget for the first quarter that shows both the number of computer chips needed and the dollar amount of the purchases in the budget. Prepare the direct materials budget by first calculating the total quantity needed, then complete the budget. X Data table McKnight Industries Direct Materials Budget For the Months of January through March January February March Quarter Stuffed animals to be produced 5.600 January ..... February March ... 4.400 4,700 Units to be produced Multiply by: Quantity of direct materials needed per unit Quantity needed for production Plus: Desired ending inventory of direct materials Total quantity needed April 4,000 Print Done Homework: Chapter 9 Homework Question 1, E9-22A (sim... Part 1 of 2 HW Score: 0%, 0 of 25 points O Points: 0 of 2 2 Save Stenback anticipates selling 228,000 jars with total sales revenue of $269,000 in the first quarter of the year following the year given in the preceding table. Stenback has a policy that the ending inventory of jars must be 30% of the following quarter's sales. Stenback Foods produces specialty soup sold in jars. The projected sales in dollars and jars for each quarter of the upcoming year are as follows: Total sales Number of jars revenue sold 1st quarter ....$ 184.000 154.500 2nd quarter ... $ 216.000 182.500 3rd quarter ...$ $ 259,000 213,500 4th quarter ... $ 193,000 165,000 Requirement Prepare a production budget for the year that shows the number of jars to be produced each quarter and for the year in total. Prepare the production budget by first calculating the total units needed, then calculate the units to produce. Stenback Foods Production Budget For the Quarters in the Upcoming Year Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year Unit sales Plus: Desired ending inventory Total needed