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Pets Plus, Inc. produces otic fluid for dogs. The otic fluid is sold in 12-ounce plastic bottles. The sales budget for the first four

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Pets Plus, Inc. produces otic fluid for dogs. The otic fluid is sold in 12-ounce plastic bottles. The sales budget for the first four months of the year is as follows: January February Unit Sales 80,000 45,000 March April 70,000 58,000 Company policy requires that ending inventories for each month be 25% of next month's sales. At the beginning of January, the inventory of otic fluid is 33,000 bottles. Each bottle of otic fluid needs two raw materials: eight ounces of a mix of salicylic acid and water and one plastic bottle. Company policy requires that ending inventories of raw materials for each month be 20% of the next month's production needs. That policy was met on January 1. Required: Download Excel spreadsheet 1. Prepare a production budget for the first quarter of the year. Show the number of bottles that should be produced each month as well as for the quarter in total. Pets Plus, Inc. Production Budget For the First Quarter of the Year Line Item Description January February March Total Sales Desired ending inventory Total needs Less: Beginning inventory Units produced

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