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Crane Company is preparing its master budget for 2020. Relevant data pertaining to its sales, production, and direct materials budgets are as follows. Sales. Sales for the year are expected to total 1,800,000 units. Quarterly sales are 18%, 25%, 25%, and 32%, respectively. The sales price is expected to be $39 per unit for the first three quarters and $43 per unit beginning in the fourth quarter. Sales in the first quarter of 2021 are expected to be 15% higher than the budgeted sales for the first quarter of 2020. Production. Management desires to maintain the ending finished goods inventories at 25% of the next quarter's budgeted volume. Direct materials. Each unit requires 2 pounds of raw materials at a cost of $10 per pound. Management desires to maintain raw materials inventories at 10% of the next quarter's production requirements. Assume the production requirements for first quarter 000 pounds. Prepare the sales, production, and direct materials budgets by quarters for 2020. CRANE COMPANY x Sales Budget For the Year Ending December 31, 2020 Quarter 1 2 3 Year Expected Unit Sales + 324000 450000 450000 576000 1800000 39 43 Unit Selling Price 39 39 x Total Sales 12636000 17550000: 17550000 24768000 $: 61104000 CRANE COMPANY Production Budget For the Year Ending December 31, 2020 Quarter 1 2 3 4 Year Expected Unit Sales 324000 450000 450000 576000 X x x Add 4. Desired Ending Finished Goods Units 81000 112500 112500 95580 K Total Required Units 405000 562500 562500 671580 x Less +. Beginning Finished Goods Units 81000 81000 112500 112500X X X X X Required Production Units 324000 481500 450000 559080 1814580 CRANE COMPANY x Direct Materials Budget For the Year Ending December 31, 2020 Quarter 1 2 3 4 Year V X X x Units to be Produced Direct Materials Per Unit X X Total Pounds Required for Production Add Desired Ending Direct Materials (Pounds) X Total Materials Required v Less Beginning Direct Materials (Pounds) x Direct Materials Purchases X Cost Per Pound to to X x Total Cost of Direct Materials Purchases to Click if you would like to Show Work for this question: Open Show Work