Question 5 of 7 0.5/1 View Policies Show Attempt History Current Attempt in Progress On January 1, 2017, the Sheffield Company budget committee has reached agreement on the following data for the 6 months ending June 30, 2017 Sales units: First quarter 5.300: second quarter 6,300; third quarter 7,000 Ending raw materials inventory: 40% of the next quarter's production requirements Ending finished goods inventory: 25% of the next quarter's expected sales units Third-quarter production: 7.730 units The ending raw materials and finished goods inventories at December 31, 2016, follow the same percentage relationships to production and sales that occur in 2017.3 pounds of raw materials are required to make each unit of finished goods. Raw materials purchased are expected to cost $6 per pound Question 5 of 7 > 0.5/1 Prepare a direct materials budget by quarters for the 6-month period ended June 30, 2017 SHEFFIELD COMPANY Direct Materials Budget Quarter 2 Six Months $ 5 BOR