On January 1, 2020, the Cullumber 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 5,700;second quarter 6,100; third quarter 7,400, 40% of the next quarter's production requirements. 25% of the next quarter's expected sales units 7,850 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. Prepare a production budget by quarters for the 6-month period ended June 30, 2020, CULLUMBER COMPANY Production Budget Quarter Quarter 2 M > Prepare a direct materials budget by quarters for the 6-month period ended June 30, 2020 CULLUMBER COMPANY Direct Materials Budget Quarter 1 2 $ $ $ $