On January 1, 2020, the Hardin Company budget committee has reached agreement on the following data for the 6 months ending June 30, 2020. Sales units: First quarter 5,700; second quarter 6,200; third quarter 7,200. Ending raw materials inventory: 40% of the next quarter's production requirements. Ending finished goods inventory: 25% of the next quarter's expected sales units. Third-quarter production: 7,670 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 $4 per pound. Prepare a production budget by quarters for the 6-month period ended June 30, 2020. HARDIN COMPANY Production Budget For the Six Months Ending June 30, 2020 Quarter Six Months 1 2 Expected Unit Sales 5700 6200 Add : Desired Ending Finished Goods Unit 1550 1800 Total Required Units 7250 8000 Less : Beginning Finished Goods Unit 1425 1550 Required Production Units 5825 6450 12275 e Textbook and Media Attempts: 1 of 3 used Prepare a direct materials budget by quarters for the 6-month period ended June 30, 2020. HARDIN COMPANY Direct Materials Budget Quarter 1 2 Six Months + + + : $ $ $ $ $