On January 1, 2022, the Sheffield Company budget committee has reached agreement on the following data for the 6 months ending June 30, 2022. Sales units: First quarter 7,300; second quarter 8,760; third quarter 10,220. 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: 10,570 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. On January 1, 2022, the Sheffield Company budget committee has reached agreement on the following data for the 6 months ending June 30, 2022. Sales units: First quarter 7,300; second quarter 8,760; third quarter 10,220. 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: 10,570 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