Mandelbaum Company is preparing its master budget for 2014. Relevant data pertaining to its sales, production, and direct materials budgets are as follows. Sales: Sales for the year are expected to total 1,200,000 units. Quarterly sales are 20%, 26%, 27%, and 27%, respectively. The sales price is expected to be $41 per unit for the first three quarters and $44 per unit beginning in the fourth quarter. Sales in the first quarter of 2015 are expected to be 15% higher than the budgeted sales for the first quarter of 2014. Production: Management desires to maintain the ending finished goods inventories at 20% of the next quarter's budgeted sales volume. Prepare the sales and production budgets, by quarters, for 2014. Mandelbaum Company Sales Budget For the Year Ending December 31, 2014 Quarter 4 Year 3 2 1 Mandelbaum Company Production Budget For the Year Ending December 31, 2014 Quarter 1 Year