Preston Manufacturing produces self-watering planters for use in upscale retail establishments. Sales projections for the first five months of the upcoming year show the estimated unit sales of the planters each month to be as follows: (Click the icon to view additional information.) Inventory at the start of the year was 750 planters. The desired inventory of planters at the end of each month should be equal to 25% of the following month's budgeted sales. Each planter requires two pounds of polypropylene (a type of plastic). The company wants to have 20% of the polypropylene required for next month's production on hand at the end of each month. The polypropylene costs $0.20 per pound. Read the requirements Requirement 1. Prepare a production budget for each month in the first quarter of the year, including production in units for each month and for the quarter. Preston Manufacturing Production Budget For the Months of January through March January February March Quarter Unit sales 3000 3200 3100 9300 750 800 Plus: Desired ending inventory 775 775 Total needed 2250 2400 2325 8525 750 Less: Beginning inventory 800 750 1500 1650 1525 7775 Units to produce 750 Data Table January .. February March... April..... May Number of planters to be sold 3,000 3,200 3,100 4,200 4,000 Print Done Requirements 1. Prepare a production budget for each month in the first quarter of the year, including production in units for each month and for the quarter. 2. Prepare a direct materials budget for the polypropylene for each month in the first quarter of the year, including the pounds of polypropylene required and the total cost of the polypropylene to be purchased. Print Done