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Symphony Electronics produces wireless speakers for outdoor use on patios, decks, etc. Their most popular...

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Symphony Electronics produces wireless speakers for outdoor use on patios, decks, etc. Their most popular model is the All Weather and requires four separate XL12 components per unit. The company is now planning raw material need for the second quarter. Sales of the All Weather are the highest in the second quarter of each year as customers prepare for the summer season. The company has the following inventory requirements: a. The finished goods inventory on hand at the end of each month must be equal to 14,000 units plus 10% of the next month's sales. The finished goods inventory on March 31 is budgeted to be 26,700 units. b. The raw materials inventory on hand at the end of each month must be equal to 20% of the following month's production needs for raw materials. The raw materials inventory on March 31 for XL. 12 is budgeted to be 97,700 components. c. The company maintains no work in process inventories. A sales budget for the All Weather speaker is as follows: Required: 1. Prepare a production budget for the All Weather for April, May, Junt and July. 2. Prepare a direct materials purchases budget showing the quantity of XL. 12 components to be purchased for April, May and June and for the quarter in total

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