Pharoah Company is preparing its master budget for 2022. Relevant data pertaining to its sales, production, and direct materials budgets are as follows. Sales: Sales for the year are expected to total 1,000,000 units. Quarterly sales are 20%, 25%, 25%, and 30%, respectively. The sales price is expected to be $ 40 per unit for the first three quarters and $ 46 per unit beginning in the fourth quarter. Sales in the first quarter of 2023 are expected to be 10% higher than the budgeted sales for the first quarter of 2022. Production: Management desires to maintain the ending finished goods inventories at 20% of the next quarter's budgeted sales volume. Direct materials: Each unit requires 2 kg of raw materials at a cost of $ 10 per kilogram. Management desires to maintain raw materials inventories at 10% of the next quarter's production requirements. Assume the production requirements for the first quarter of 2023 are 590,000 kg.

(a1)

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Prepare the sales budget by quarters for 2022.

PHAROAH COMPANY Sales Budget (in thousands) For the Year Ending December 31, 2022
		Quarter
		1		2		3		4		Year
Unit sales		enter a number for units		enter a number for units		enter a number for units		enter a number for units		enter a number for units
Unit price		$ enter a dollar amount		$ enter a dollar amount		$ enter a dollar amount		$ enter a dollar amount
Total sales		$ enter a total dollar amount		$ enter a total dollar amount		$ enter a total dollar amount		$ enter a total dollar amount		$ enter a total dollar amount

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Attempts: 2 of 3 used

(a2)

Prepare the production budget by quarters for 2022. (Round answers to 2 decimal places, e.g. 15.25)

PHAROAH COMPANY Production Budget (in thousands) For the Year Ending December 31, 2022
	Quarter								Year
	1		2		3		4
select an opening production budget item Ending inventoryUnit salesBeginning inventoryTotal requiredFinished goods	enter a number of units		enter a number of units		enter a number of units		enter a number of units		enter a number of units
select between addition and deduction AddLess: select a production budget item Unit salesEnding inventoryBeginning inventoryTotal requiredFinished goods	enter a number of units		enter a number of units		enter a number of units		enter a number of units		enter a number of units
select a summarizing line for the first part Beginning inventoryEnding inventoryTotal requiredUnit salesFinished goods	enter a total number of units for the first part		enter a total number of units for the first part		enter a total number of units 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 AddLess: select a production budget item Finished goodsBeginning inventoryUnit salesTotal requiredEnding inventory	enter a number of units		enter a number of units		enter a number of units		enter a number of units		enter a number of units
Total	enter a total number of units		enter a total number of units		enter a total number of units		enter a total number of units		enter a total number of units

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