Units QUESTION 3 (A) Yosemite Company has budgeted the following unit sales: 2020 January 10,000 February 8,000 March 9,000 April 11,000 May 15,000 The finished goods units on hand on December 31, 2019 was 2,000 units. Each unit requires 2 pounds of raw materials that are estimated to cost an average of $4 per pound. It is the company's policy to maintain a finished goods inventory at the end of each month equal to 20% of next month's anticipated sales. They also have a policy of maintaining a raw materials inventory at the end of each month equal to 30% of the pounds needed for the following month's production. There were 5,760 pounds of raw materials on hand at December 31, 2019. 57 REQUIRED 1. Prepare a production budget in units for January, February and March. Prepare a direct materials budget in pounds and in dollars for January, February and March. (15 marks) QUESTION 3 (CONT'D) (B) Garden International Corporation had the following account balances for the quarter ending March 31, unless otherwise noted: Work-in-process inventory (January 1) Work-in-process inventory (March 31) Finished goods inventory (January 1) Finished goods inventory (March 31) $ 140,400 171,000 540,000 510,000 Direct materials used Indirect materials used Direct manufacturing labor Indirect manufacturing labor 378,000 84,000 480,000 186,000 Property taxes on manufacturing plant building Salespersons' company vehicle costs Depreciation of manufacturing equipment Depreciation of office equipment 28,800 12,000 264,000 123,600 Pancau Miscellaneous plant overhead Plant utilities General office expenses Marketing distribution 135,000 92,400 305,400 30,000 REQUIRED Prepare a cost of goods manufactured schedule for the quarter. (5 marks) (Total 20 marks)