View Policies Current Attempt in Progress On January 1, 2021, the Chinlee Company budget committee reached agreement on the following data for the six months ending June 30,2021 1 Sales units: First quarter 4,900; second quarter 5.800; third quarter 7,200 2 Ending raw materials inventory: 40% of the next quarter's production requirements 3 Ending finished goods Inventory: 25% of the next quarter's expected sales units 4 Third-quarter production: 7,300 units The ending raw materials and finished goods Inventories at December 31, 2020, had the same percentages for production and sales that are budgeted for 2020 3 kilograms of raw materials are needed to make each unit of finished goods. Raw materials purchased are expected to cost $4 per kilogram Prepare a production budget by quarters for the six-month period ended June 30, 2021 CHINLEE COMPANY Production Budget For the Six Months Ending June 30, 2021 Quarter