On January 1, 2020, the Hardin Company budget committee has reached agreement on the following data for the 6 months ending June 30, 2020 Sales units: Ending raw materials inventory: Ending finished goods inventory: Third-quarter production: First quarter 5.100; second quarter 6,800; third quarter 7,300. 40% of the next quarter's production requirements. 25% of the next quarter's expected sales units. 7.390 units. The ending raw materials and finished goods inventories at December 31, 2019, follow the same percentage relationships to production and sales that occur in 2020.4 pounds of raw materials are required to make each unit of finished goods, Raw materials purchased are expected to cost $5 per pound. (a) Your answer is correct, Prepare a production budget by quarters for the 6-month period ended June 30, 2020 HARDIN COMPANY Production Budget For the six months Ending June 30, 2020 Quarter 2 Expected Unt Sales 5100 6800 Add Desired Erding Finished Goods Unit 1700 1825 TotalRequired Units 6800 8625 Less Beginning Finished Goods Unit 12751 1700 Red Production Units 5525 6925 Prepare a direct materials budget by quarters for the 6-month period ended June 30, 2020. HARDIN COMPANY Direct Materials Budget For the Six Months Ending June 30, 2020 Quarter 2 nits to be produced vrect Materials Per Unit stal Pounds Needed for Production 1d : Desired Ending Direct Materials (Pounds) tal Materials Required Beginning Direct Materials (Pounds) irect Materials Purchases ost Per Pound tal Cost of Direct Materials Purchases $