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Concord manufactures competition stunt kites. In November, Michael Jones prepared the following production budget for the first quarter of the coming year. Desired ending inventory is based on the following month's budgeted sales. January February March Quarter 109.000 44,000 31.000 34,000 6,200 6,800 2,400 2.400 Budgeted sales Desired ending inventory Kites needed Less beginning inventory Budgeted production 50,200 37,800 36,400 111,400 8.800 6,200 6,800 8,800 41,400 31,600 29,600 102,600 Following lower-than-expected sales in December, Jerry conducted an inventory count on January 2 and discovered that the company had 5,000 completed kites on hand. He decided that given the slow sales in December, the company should decrease its desired ending inventory level from 20 to 10% of the next month's sales volume. (a) Prepare a new production budget for the first quarter. January February March Budgeted unit sales 44000 31000 34000 Budgeted ending inventory 3100 3400 Total units required 47100 Beginning inventory Budited production