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Diane Buswell is preparing the 2020 budget for one of Current Designs' rotomolded kayaks. Extensive meetings with members of the sales department and executive team have resulted in the following unit sales projections for 2020. Quarter 1 Quarter 2 Quarter 3 Quarter 4 1,300 kayaks 2,000 kayaks 950 kayaks 950 kayaks Current Designs' policy is to have finished goods ending inventory in a quarter equal to 25% of the next quarter's anticipated sales. Preliminary sales projections for 2021 are 1,100 units for the first quarter and 2,000 units for the second quarter. Ending inventory of finished goods at December 31, 2019. will be 325 rotomolded kayaks. Production of each kayak requires 52 pounds of polyethylene powder and a finishing kit (rope, seat, hardware, etc). Company policy is that the ending inventory of polyethylene powder should be 20% of the amount needed for production in the next quarter. Assume that the ending inventory of polyethylene powder on December 31, 2019, is 20,800 pounds. The finishing kits can be assembled as they are needed. As a result, Current Designs does not maintain a significant inventory of the finishing kits. The polyethylene powder used in these kayaks costs $1.50 per pound, and the finishing kits cost $160 each. Production of a single kayak requires 2 hours of time by more experienced, type I employees and 3 hours of finishing time by type II employees. The type I employees are paid $13 per hour, and the type ll employees are paid $10 per hour. Selling and administrative expenses for this line are expected to be $48 per unit sold plus $7,100 per quarter. Manufacturing overhead is assigned at 140% of labor costs. (a) Your answer is partially correct. Prepare the production budget for this product line by quarter and in total for 2020 CURRENT DESIGNS Production Budget For the Year Endine December 31, 2020 Q2 Q1 Q3 04 Total Beginning Finished Goods Unit 1300 2,000 950 950 500 2375 2375 275 Add Desired Endine Finished Goods Unit Total Required Units Less Desired Endine Finished Goods Unit V 1800 22375 11875 1225 325 i 500 i 237.5 2375 Required Production Units 1475 17375 950 987.5 5150 e Textbook and Media Assistance Used e Textbook