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 16,600 units plus 10% of the next month's sales. The finished goods inventory on March 31 is budgeted to be 28,300 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 98,600 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 123,000 142,000 213,000 112,000 59,800 Required: 1. Prepare a production budget for the All Weather for April, May, June and July. June July 112,000 Budgeted sales (units) Add: Desired ending inventory Total needs Less: Beginning inventory Required production April 123,000 30.800 153,800 28,300 125,500 May 142,000 37,900 179,900 30,800 149,100 213,000 27,800 240,800 37,900 202,900 22,580 134,580 27.800 106.780 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. Second Quarter 477,500 4 April May June Required production (units) 125,500 149,100 202,900 XL 12 components needed per unit 4 4 4 Production needs 502,000 596,400 811,600 Add: Desired ending inventory 119,280 162,320 85,424 Total XL 12 needs 621,280 758,720 897,024 Less: Beginning inventory 98,600 119,280 162,320 Material XL 12 purchases 522,680 639,440 734,704 *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted. 1,910,000 367,024 X 2,277,024 380,200 X 1,896,824