Production Budget and Direct Materials Purchases Budgets Peanut Land Inc. produces all-natural organic peanut butter. The peanut butter is sold in 12-ounce jars. The sales budget for the first four months of the year is as follows: Unit Sales Dollar Sales ($) January 40,000 72,000 February 70,000 126,000 March 80,000 144,000 April 54,000 97,200 Company policy requires that ending inventories for each month 15 of net month's sales at the beginning of the inventory of peanut butter is 1.000 Jars Escar Deanut butter needs two raw mater 24 us of peanuts and one ja Company policy regrettendo invertories of raw materials for each other Inuary 1 1. Prepare a production budget for the first quarter of the year. Show the number of us that should be produced each month as well as for the quarter in total Peanut Land Inc. Production Budget For the First Quarter of the Year January February March Total Sales Desired ending inventory Total needs Less: Beginning inventory Units produced 2. Prepare a direct materials purchases budget for jars for the months of January and February Peanut Land Inc. Direct Materials Purchases Budget for Jars For January and February January February Total Production Jar Jars for production Desired ending inventory Total needs Less: Beginning inventory Jars purchased Prepare a direct materials purchases budget for peanuts for the month of January and February Peanut Land Inc. Direct Materials Purchases Budget for Peanuts For January and February January February Total Production Ounces Ounces for production Desired ending inventory Total needs Less: Beginning inventory Ounces purchased b