PROBLEM 1 (50 points): Remember to start each problem on a new page. Neff manufactures miniature fake trees. Each tree requires 3 feet of birch branches at $6 per foot, 8 feet of leafy garlands at $3 per foot, and 4 coils of green wire at $7 per coil. The sales team and production manager have determined the following projections for the upcoming sixteen months. Each tree sells for $100. Month December January February March April May June Forecasted Sales Revenue $ 25,000 $ 20,000 $15,000 $ 18,000 $ 14,000 $ 12,000 $ 10,000 Required.: 1) Prepare a Production Budget for the 1st quarter of 2018. The company requires ending inventory to be 10% of the following month's sales. Prepare the monthly raw materials purchases budget for COILS OF GREEN WIRE for the 1st QUARTER of 2018. The company requires ending inventory to be 20% of the next month's production needs. The company had 162 feet of coils of green wire in their raw materials warehouse on December 31, 2017. How many coils of green wire will the company need to purchase during the 1st quarter of 2018? If the company pays for direct material purchases in the month following the purchase, how much will Neff pay their coils of green wire vendor in March 2018? 2) 3) 4)