The marketing department of Goethe Inc. has submitted the following sales forecast for 2024: 1st 2nd 3rd 4 th Budgeted sales (units) 8,700 7,700 5,700 6,700 The company expects to start the first quarter with 1,640 units in finished goods inventory. Management desires an ending finished goods inventory in each quarter equal to 20% of the next quarter's budgeted sales. The desired ending finished goods inventory for the fourth quarter is 2,140 units. In addition, the beginning raw materials inventory for the first quarter is budgeted to be 3,260 kilograms and the beginning accounts payable for the first quarter are budgeted to be $16,220. Each unit requires two kilograms of raw material that costs $4 per kilogram. Management desires to

The marketing department of Goethe Inc. has submitted the following sales forecast for 2024: The company expects to start the first quarter with 1,640 units in finished goods inventory. Management desires an ending finished goods inventory in each quarter equal to 20% of the next quarter's budgeted sales. The desired ending finished goods inventory for the fourth quarter is 2,140 units. In addition, the beginning raw materials inventory for the first quarter is budgeted to be 3,260 kilograms and the beginning account payable for the first quarter are budgeted to be $16,220. Each unit requires two kilograms of raw material that costs $4 per kilogram. Management desires to end each quarter with an inventory of raw materials equal to 20% of the following quarter's production needs. The desired ending inventory for the fourth quarter is 3,210 kilograms. Management plans to pay for 75% of raw material purchases in the quarter acquired and 25% in the following quarter. Required: 1. Prepare the company's production budget for the upcoming fiscal year