The following information applies to the questions displayed below d, a popular aftershave lotion, requires 2 75 ounces of ocean scent. Budgeted ocean scent. Budgeted production of Old Guard for the first of three quorters of 2016 is as follows: Quarter I Quarter lI Quarter I1 5,000 gallons 18,000 gaons 12,000 golions tory to meet 30%s of the next quarters Management's policy is to have on hond at the end of every quarter enough ocean scent inves production needs. At the beginning of Quarter l, 12.375 ounces of ocean scent were on hand Required Information Required: number of ounces of ocean scent to be purchased in each of the first two quarters of 2016 Quarter I Quarter Number of ounces Required Information b. Indicate why management plans for an ending inventory instead of planning to purchase each quartes the amount of raw materials needed for that quarter's production (Select all that apply) Inventory provides a cushion for delivery delays. Inventory provides a cushion for production needs in excess of production forecast. Inventory provides a cushion for payment delays Inventory provides a cushion for sales needs in excess of sales forecast