Q5 On January 1, 2019 the Jindal Steel Company budget committee has reached agreement on the following data for the 6 months ending June 30, 2019. Sales units: First quarter 15,000; second quarter 16,000; third quarter 17,000 Ending raw materials inventory 50% of the next quarter's production requirements Ending finished goods inventory 30% of the next quarter's expected sales units The ending raw materials and finished goods inventories at December 31, 2018, follow the same percentage relationships to production and sales that occur in 2019. Three pounds of raw materials are required to make each unit of finished goods. Raw materials purchased are expected to cost $5 per pound. Instructions: (a) Prepare a production budget by quarters for the 6-month period ended June 30, 2019. (b) Prepare a direct materials budget for first quarters for the period ended on Mar.30th, 2019