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)

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

eTextbook and Media

Attempts: 2 of 3 used

(a2)

New attempt is in progress. Some of the new entries may impact the last attempt grading.

Your answer is partially correct.

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