Problem DS-31 Sheffield Enterprises is a boutique guitar manufacturer. The company produces both acoustic and electric guitars for rising and established professional musicians. Vanessa Aaron, the company's sales manager prepared the following sales forecast for 2018. The forecasted sales prices include a 5% increase in the acoustic guitar price and a 10% increase in the electric guitar price, to cover anticipated increases in raw materials prices Sales Price arter 3"d Quarter 4th Quarter 290 350 Acoustic guitar sales Electric guitar sales $1,280 $2,420 190 300 345 410 320 360 Prepare Sheffield's sales budget for 201 Sales Budget 1st Quarter 2nd Quarter 3d Quarter 4th Quarter Annual Acaustic: Electric Total revenue On Decenber 31, 2017, Sheffield had 30 acoustic guitars in stock-fewer than the desired inventory level of 76 guitars, based on the fallawing quarter's sales. The company has budgoted far sales or 240 acoustic guitars in the first quarter of 2019. Prepare the 2018 production budget for acoustie guitars. st Quarter 2nd Quarter 3rd Quarter 4th Quarter Annual LINK TO TEXT INK TO VIDEO Each acoustic guitar requires a maple neck blank, which Shefield purchases for s50. On December 31, 2017, Sheffield had 400 neck blanks in inventory. Spoilage during the production process results in a standard quantity of 1.5 necks per acoustic guitar. Because of recent delivery problems, Shemeld wants to maintain an ending inventory equal to 50% ofthe following quarter's production needs. Since the supplier has assured Sheffield that the delivery issues will be resolved by the end of December, Sheffield wants only 390 neck blanks in inventory on December 31 201B. Prepare the purchases budget for neck blarnks far 2018. (Enter "per guitar value to 1 decimal place, e.g. 3.1. Round all other answers to O decimal places, e.g. 153.) Purchases Budget Ist Quarter 2nd Qua rter 3 o rd Quarter 4thQuarter Annual