On January 1, 2020, the Crane Company budget committee has reached agreement on the following data for the 6 months ending June 30, 2020. Sales units: Ending raw materials inventory: Ending finished goods inventory: Third-quarter production: First quarter 5,100; second quarter 6,800; third quarter 7,300. 40% of the next quarter's production requirements. 25% of the next quarter's expected sales units. 7,390 units. The ending raw materials and finished goods inventories at December 31, 2019, follow the same percentage relationships to production and sales that occur in 2020.4 pounds of raw materials are required to make each unit of finished goods. Raw materials purchased are expected to cost $5 per pound. Your answer is correct. Prepare a production budget by quarters for the 6-month period ended June 30, 2020. Expected Unit Sales CRANE COMPANY Production Budget For the Six Months Ending June 30, 2020 1 5,100 1,700 6,800 Add Desired Ending Finished Goods Unit Total Required Units Beginning Finished Goods Unit 1,275 Required Production Units Your answer is partially correct 5,525 Prepare a direct materials budget by quarters for the 6-month period ended June 30, 2020. Quarter 2 18 8,6 1,700 6,9