Marigold Enterprises is a boutique guitar manufacturer. The company produces both acoustic and electric guitars for rising and established professional musicians. Vanessa Aaron, the company's sales manager, prepared the following sales forecast for 2018. The forecasted sales prices include a 5% increase in the acoustic guita price and a 10% increase in the electric guitar price, to cover anticipated increases in raw materials prices. 1" Quarter Sales Price $1,300 $2,350 2nd Quarter 250 Acoustic guitar sales Electric guitar sales 200 3rd Quarter 300 300 4th Quarter 305 350 400 360 Prepare Marigold's sales budget for 2018. Sales Budget 3rd Quarter 1" Quarter 2 Quarter 4th Quarter Anr Acoustic: Electric Total revenue On December 31, 2017, Marigold had 30 acoustic guitars in stock-fewer than the desired inventory level of 80 guitars, based on the following quarter's sales. The company has budgeted for sales of 240 acoustic guitars in the first quarter of 2019. Prepare the 2018 production budget for acoustic guitars. Production Budget 2nd Quarter 3rd Quarter 1Quarter 4th Quarter Annual e Textbook and Media Each acoustic guitar requires a maple neck blank, which Marigold purchases for $40. On December 31, 2017, Marigold had 390 neck blanks in inventory. Spoilage during the production process results in a standard quantity of 1.5 necks per acoustic guitar. Because of recent delivery problems, Marigold wants to maintain an ending inventory equal to 50% of the following quarter's production needs. Since the supplier has assured Marigold that the delivery issues will be resolved by the end of December, Marigold wants only 370 neck blanks in inventory on December 31, 2018. Prepare the purchases budget for neck blanks for 2018. (Enter "per guitar" value to 1 decimal place, eg. 3.1. Round all other answers to decimal places, e.g. 153.) Purchases Budget 2nd Quarter 19 Quarter 3rd Quarter 4th Quarter Annual e Textbook and Media