On January 1, 2022, the Lily Company budget committee has reached agreement on the following data for the 6 months ending June 30, 2022. Sales units: Ending raw materials inventory: Ending finished goods inventory: Third-quarter production: First quarter 6,500; second quarter 7,800; third quarter 9.100. 40% of the next quarter's production requirements. 25% of the next quarter's expected sales units. 9,450 units. The ending raw materials and finished goods inventories at December 31, 2021, follow the same percentage relationships to production and sales that occur in 2022. Three pounds of raw materials are required to make each unit of finished goods. Raw materials purchased are expected to cost $4 per pound. (a) Prepare a production budget by quarters for the 6-month period ended June 30, 2022. Expected Unit Sales Add Desired Ending Finished Goods Units Total Required Units Less Beginning Finished Goods Units Required Production Units Save for Later LILY COMPANY Production Budget For the Six Months Endling June 30, 2022 1 6500 Quarter 2 7800 Attempts: 0 of 3 used Submit Answer