PROBLEM I The Tobler Company has budgeted production for next year as follows: Production in units. 49000 Four pounds of raw materials are required for each unit produced. Raw materials on hand at the start of the year total 4,000 pounds. The raw materials inventory at the end of each quarter should equal 10% of the next quarter's production needs. The cost of raw materials is $2.00 per pound. First 10.000 Quarter Second Third Fourth 12.000 16.000 14.000 Required: 1) Determine the Budgeted purchases of raw materials in the third quarter. 2) Determine the cost of raw material for the third period, ne Waverly Company has budgeted sales for next year as follows: Sales in units .......... The ending inventory of finished goods for each quarter should equal 25% of the next quarter's budgeted sales in units. The finished goods inventory at the start of the year is 3,000 units, Quarter First Second Third Fourth 12.000 14.000 18,000 16,000 Required: 1) Determine the Scheduled production for the third quarter. 2) Determine the ending inventory for the third quarter