On January 1, 2020, the Hardin Company budget committee has reached agreement on the following data for the months ending June 30, 2020. Sales units: First quarter 6,000 second quarter 6.900: third quarter 7400 Ending raw materials inventory: 40% of the next quarter's production requirements Ending finished goods inventary: 25% of the next quarter's expected sales units. Third-quarter production: 7.840 units. The ending raw materials and finished goods Inventaries at December 31, 2019 follow the same percentage relationships to production and les 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 Correct Answer 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 6,900 1,850 Expected Unit Sales Add : Desired Ending Finished Goods Unit : Total Required Units Less : Beginning Finished Goods Unit Required Production Units 4,000 1,725 7,725 1,500 6,225 8,750 1,725 i 7,025 1250 Prepare a direct materials budget by quarters for thno-month perind ended June 20, 2020. HARDIN COMPANY Direct Materials Budget Quarter Six Months