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: Total sales Number of jars revenue sold Smith anticipates selling 223,000 jars with total sales revenue of $268,000 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 25% of the following quarter's sales. 1st quarter. $ 155,000 187,000 219,000 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. 2nd quarter $ 182,500 3rd quarter $ 252,000 214,500 4th quarter 194,000 164,000 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