Symphony Electronics produces wireless speakers for outdoor use on patios, decks, etc. Their most popular model is the All Weather and requires four separate XL12 components per unit. The company is now planning raw material needs for the second quarter. Sales of the All Weather are the highest in the second quarter of each year as customers prepare for the summer season. The company has the following inventory requirements: a. The finished goods inventory on hand at the end of each month must be equal to 15,000 units plus 10% of the next month's sales. The finished goods inventory on March 31 is budgeted to be 27,700 units. b. The raw materials inventory on hand at the end of each month must be equal to 20% of the following month's production needs for raw materials. The raw materials inventory on March 31 for XL 12 is budgeted to be 97,700 components. c. The company maintains no work in process inventories. A sales budget for the All Weather speaker is as follows: April May June July August Budgeted Sales in Units 100,000 157,000 202,000 117,000 61,600 Required: 1. Prepare a production budget for the All Weather for April, May, June and July. April 100,000 May 157,000 June 202,000 July 117,000 Budgeted sales (units) Add: Desired ending inventory Total needs Add: Beginning inventory Required production 100,000 157,000 202,000 117,000 100,000 157,000 202,000 117,000 2. Prepare a direct materials purchases budget showing the quantity of XL 12 components to be purchased for April, May and June and for the quarter in total. April May June Second Quarter Required production (units) XL 12 components needed per unit Production needs Total XL 12 needs Material XL 12 purchases