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Symphony Electronics produces wireless speakers for outdoor use on patios, decks, etc. Their most popular model is the All Weather and requires four separate XL12 components per unit. The company is now planning raw material needs for the second quarter. Sales of the All Weather are the highest in the second quarter of each year as customers prepare for the summer season. The company has the following inventory requirements: a. The finished goods inventory on hand at the end of each month must be equal to 16,600 units plus 10% of the next month's sales. The finished goods inventory on March 31 is budgeted to be 28,300 units. b. The raw materials inventory on hand at the end of each month must be equal to 20% of the following month's production needs for raw materials. The raw materials inventory on March 31 for XL 12 is budgeted to be 98,600 components. c. The company maintains no work in process inventories. A sales budget for the All Weather speaker is as follows: April May June July August Budgeted sales in Units 123,000 142,000 213,000 112,000 59,800 Required: 1. Prepare a production budget for the All Weather for April, May, June and July OO Budgeted sales (units) Add: Desired ending inventory Total needs Less: Beginning inventory Required production April 123,000 30,800 153,800 28,300 125,500 May 142,000 37,900 179,900 30,800 149,100 June 213,000 27.800 240.800 37,900 202,900 July 112.000 22,580 134,580 27,800 106,780 Required: 1. Prepare a production budget for the All Weather for April May June and July NO Budgeted sales (unit) Add Desired ending inventory Total needs Less: Beginning inventory Required production April 123,000 30,800 153.800 28,300 125,500 May 142,000 37.900 179.000 30,000 149.100 213,000 27.800 240.000 37.900 202.900 July 112,000 22,580 134,580 27,800 106,700 2. Prepare a direct materials purchases budget showing the quantity of XL 12 components to be purchased for April, May and June and for the quarter in total Required production units) XI. 12 components needed per unit Production de Add: Desired ending inventory Total XL 12 reeds Les Begring inventory Malonial XL 12 purchase April 125.500 1 509,000 119.280 621.280 98,600 522.680 May June Second Quarter 149.100 202,900 477,500 4 596.400 811.000 1,910,000 162.320 85,424367024 758.720 897024 2.277024 119.200 162,320 380.200 030440 734,700 1,800.024