View Policies Current Attempt in Progress Sheffield Industries has budgeted the following unit sales 2022 Units January 10,500 February 8,000 March 9,000 April 12.000 May 14.500 The finished goods units on hand on December 31, 2021 was 2.100 units Each unit of finished goods requires 2 pounds of direct materials that are estimated to cost an average of $5 per pound. It is the company's policy to maintain a finished goods invemory at the end of each month equal to 20% of next month's anticipated sales. The company also has a policy of maintaining a direct materials inventory at the end of each month equal to 30% of the pounds needed for the following month's production. There were 6.000 pounds of direct materials on hand at December 31, 2021 (a) Your answer has been saved See score details after the due date For the first quarter of 2022 prepare a production budget SHEFFIELDINDUSTRIES Expected unit sales Desired ending finished goods Inventory Total required finished goods units Less V Required production of finished goods units V Beginning finished goods Inventory SHEFFIELDINDUSTRIES Production Budget 10500 1600 12100 January 2100 10000 February 6000 1800 9800 1600 8200 Attempts: 1 of 1 used Units to be produced Direct materiale per unit Total pounde required for production Destred ending direct materials Inventory Total materials required LEES V Budgeted direct materials purchaser Cost per pound Total materiale required V Beginning direct materials Inventory V SHEFFIELDINDUSTRIES Direct Materials Budget January February 2 5 January Direct Materials Budget $ S February March Total