Preparing a Production Budget Patrick Inc. makes industrial solvents. In the first 4 months of the coming year, Patrick expects the following unit sales: January 41,000 February 38,000 March 50,000 April 51,000 Patrick's policy is to have 17% of next month's sales in ending inventory. On January 1, it is expected that there will be 4,450 drums of solvent on hand. Required: Prepare a production budget for the first quarter of the year. Show the number of drums that should be produced each month as well as for the quarter in total. If required, round your answers to the nearest whole unit. Patrick Inc. Production Budget For the Coming Quarter January February March 41,000 38,000 50,000 1st Quarter Total 129,000 Sales Desired ending inventory 6,460 8,500 8,670 8,670 Total needs 47,460 465,000 x 68,570 X 137,670 Less: Beginning inventory 4,550 X -6,460 -8,500 4,550 X Units to be produced 42,910 x 40,040 50,170 133,120 x Feedback Check My Work Partially correct