Locksafe Company manufactures burglar-resistant commercial door locks. Recently, the company began selling locks on the Web, and the company expects sales to increase dramatically compared with the prior year. For the past year, 2017, unit sales were as follows: First quarter Second quarter Third quarter Fourth quarter 23,000 units 28,000 units 27,000 units 32,000 units Assume that sales for each quarter in 2018 will be 20 percent higher than in 2017 and that the selling price will be as follows: Sales increase each quarter during 2018 Selling price per lock 20% 25 $ What-if? Consider the following after you have completed the requirements of E10-4. Suppose that the sales manager for Locksafe Company provided a separate estimate for sales during 2018. He forecasts that sales will be 33,000 units in the first quarter of 2018, and will increase 5 percent each subsequent quarter. Prepare a new sales budget by quarter for 2018 that reflects the new forecast. First Quarter Second Quarter Third Quarter Fourth Quarter Year Sales in units for 2017 Projected sales at 105% of prior quarter Sales price per unit Budgeted revenue for 2018