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: Ending raw materials inventory: Ending finished goods inventory: Third-quarter production: First quarter 5,300; second quarter 6,300; third quarter 7,000. 40% of the next quarter's production requirements. 25% of the next quarter's expected sales units. 7,730 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. 3 pounds of raw materials are required to make each unit of finished goods. Raw materials purchased are expected to cost $6 per pound. Prepare a production budget by quarters for the 6-month period ended June 30, 2020. Expected Unit Sales Add Desired Ending Finished Goods Unit Total Required Units HARDIN COMPANY Production Budget For the Six Months Ending June 30, 2020 1 5,300 1,575 6,875 Quarter 2 6,300 1,750 8,050 Less Beginning Finished Goods Unit 1,325 i 1,575 i Required Production Units 5,550 6,475 Prepare a production budget by quarters for the 6-month period ended June 30, 2020. ding Finished Goods Unit HARDIN COMPANY Production Budget For the Six Months Ending June 30, 2020 1 5,300 1,575 6,875 Quarter 2 6,300 1,750 8,050 Finished Goods Unit 1,325 i 1,575 i ts 5,550 Six Months 6,475 12,025 Units to be Produced Direct Materials Per Unit Total Pounds Needed for Production HARDIN COMPANY Direct Materials Budget For the Six Months Ending June 30, 2020 Quarter 1 2 5,300 15,900 3 6,300 18,900 3 Add : Desired Ending Direct Materials (Pounds) 1,575 1,750 Total Materials Required 17,475 20,650 Less Beginning Direct Materials (Pounds) 7,730 1,575 Direct Materials Purchases Cost Per Pound 9,745 19,075 $ 6 $ 6 Total Cost of Direct Materials Purchases $ 58,470 $ 114,450 on Direct Materials Budget For the Six Months Ending June 30, 2020 Quarter 1 5,300 3 15,900 2 6,300 3 18,900 ect Materials (Pounds) 1,575 1,750 aterials (Pounds) chases 17,475 20,650 7,730 9,745 1,575 19,075 $ 6 $ 6 Six Months 58,470 $ 114,450 $ 172,920