Smith Foods produces specialty soup sold in jars. The projected sales in dollars and jars for each quarter of the upcoming year are as follows: Smith anticipates selling 221,000 jars with total sales revenue of $263,000 in the first quarter of the year following the year given in the preceding table. Smith has a policy that the ending inventory of jars must be 30% of the following quarter's sales. Total sales revenue $188,000 Requirement Prepare a production budget for the year that shows the number of jars to be produced each quarter and for the year in total. $212,000 Number of jars sold 154,500 185,000 213,500 162,500 1st quarter .... 2nd quarter 3rd quarter 4th quarter $252,000 $190,000 Prepare the production budget by first calculating the total units needed, then calculate the units to produce. Smith Foods Production Budget For the Quarters in the Upcoming Year Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year Unit sales Plus: Desired ending inventory Total needed Less: Beginning inventory Units to produce