One Limited of Vancouver, Canada, manufactures and distributes its products in North America. Three meters (m) of leather are required to manufacture each unit of Goodfit, one of the company's products. The company is planning its raw materials needs for the third quarter. To keep production and sales moving smoothly, the company has the following inventory requirements: a. The finished goods inventory on hand at the end of each month must equal 3,000 units of product plus 20% of the next month's sales. The finished goods inventory on June 30 is budgeted to be 17,200 units. b. The raw materials inventory on hand at the end of each month must equal one-half of the following month's production needs for raw materials. The raw materials inventory on June 30 is budgeted to be 108,000 meters of leather. c. The company maintains no work in process inventories. A monthly sales budget for Goodfit for the third and fourth quarters of the year follows. July August September October November December Budgeted Unit Sales 71,000 76,000 86,000 66,000 56,000 46,000 Required: 1. Prepare a production budget for Goodfit for the months July, August September, and October 2. Prepare a direct materials budget showing the quantity of leather to be purchased for July, August, and September, and for the quarter in total. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a production budget for Goodfit for the months July, August, September, and October