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 14,500 units plus 10% of the next month's sales. The finished goods inventory on March 31 is budgeted to be 28,800 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 97,800 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 130,000 147,000 214,000 101,000 60,500 Required: 1. Prepare a production budget for the All Weather for April, May, June and July. June July 101,000 Budgeted sales (units) April 130,000 29,200 159,200 28,800 130,400 May 147,000 35,900 182,900 214,000 24,600 238,600 20,550 121,550 Total needs Required production 182,900 238,600 121,550 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 4 Production needs Add: Desired ending inventory Total XL 12 needs 0 0 0 Less: Beginning inventory Material XL 12 purchases 97,800 (97,800) 0 0 0