Preston Manufacturing produces selt-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: mick the icon to view additional information) Inventory at the start of the year was 900 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 three 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 $0.10 per pound Read the GRID vork 10) Data table Number of planters to be sold - - - - 3,600 January February ... - 3,400 March........ 3,200 April... -... 4,800 May .. 4,000 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. 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 Plus: Desired ending inventory Total needed Less: Beginning inventory Units to produce