Pearl Products Limited of Shenzhen China, manufactures and distributes toys throughout South East Asia. Three cubic centimeters (c) of solvent 300 are required to manufacture each unt of Superm, one of the company's products. The company is now planning raw material needs for the third Quarter, the quarter in which peak sales of Supermix occur. To keep production and sales moving smoothly, the company has the following inventory rements The finished goods inventory on and the end of each month must be equal to 2,000 units of Supermis plus 25% of the next month's ates. The finished goods invertory on June 30 is budgeted to be 17.250 The return valory on and the end of each month must be equal to one hall of the following mont's production needs for raw materials. The raw materials inventory on June 30 is budgeted to be c. The company manne work in process inventores Abute to Superior the months of the year follows 61.000 6.000 000 1. production budget for for the monthly August September October September October 3. Prepare a direct materials budget showing the quantity of solvent H300 to be purchased for July, August, and September, and for the quarter in total Pearl Products Limited Direct Materials Budget July Units of raw materials needed to meet production August September Third Quarter Total units of raw materials needed Units of raw materials to be purchased Pearl Products Limited of Sharuhen, China, manufactures and distributes toys throughout South East Asia. Three cubic centimeters of over 300 are required to manufacture each unit of Supermix, one of the company's products. The company is now planning raw material needs for the third quarter the quarter in which peak sales of Supermix occur. To keep production and sales moving only the company has the following inventory requirements a. The finished poods Inventory on hand at the end of each month must be equal to 2.000 units of Supermis 25% of the next month's sis. The fished goods Inventory on June 30 is budgeted to be 17.250 D. The raw materials inventory on hand at the end of each month must be equal to one-half of the following monthis production needs for raw materials. The raw materials inventory on June 30 is budgeted to be c. The company maintains no work in process inventories A sales budget for Supermix for the last six months of the year follows Budgeted July 61.000 August 65,000 September 76.000 October 56,000 November 48.000 December 36.000 Required: 1. Prepare a production budget for Supermix for the months July August September, and October Production Budget July 124.000 August Budgeted unit sales Total needs Required production in units 3. Prepare a direct materials budget showing the quantity of solvent H300 to be purchased for July August, and September, and for the quarter in total Pearl Products Limited Direct Materials Budget July Units of raw materials needed to meet production August September Third Quarter Total units of raw materials needed Units of raw materials to be purchased