On January 1, 2022, the Sheridan Company budget committee has reached agreement on the following data for the 6 months ending June 30, 2022. Sales units: First quarter 6,700; second quarter 8,040; third quarter 9,380. Ending raw materials inventory: 40% of the next quarters production requirements. Ending finished goods inventory: 25% of the next quarters expected sales units. Third-quarter production: 9,730 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. SHERIDAN COMPANY Production Budget choose the accounting period Quarter 1 2 Six Months select an opening production budget item enter a number of units enter a number of units select between addition and deduction : select a production budget item enter a number of units enter a number of units select a summarizing line for the first part enter a total number of units for the first part enter a total number of units for the first part select between addition and deduction : select a production budget item enter a number of units enter a number of units select a closing production budget item enter a total number of units for the production budget item enter a total number of units for the production budget item enter a total number of units for the production budget item

SHERIL OMPANY Direct Materials Budget For the Six Months Ending June 30, 2020 Quarter 1 2 Units to be Produced Total Pounds Needed for Production Beginning Direct Materials (Pounds) Add : Desired Ending Direct Materials (Pounds) Total Pounds Needed for Production >