Ch 22 - Budgeting Problem (25 points) A company has the following data to prepare the budgets for 2023: - Budgeted Sales units: \\( 1^{\\text {st }} \\) Qtr 5,000; \\( 2^{\\text {ad }} \\) Qtr 5,500; \\( 3^{\\text {rd }} \\) Qtr 6,000 - Desired Ending Finished Goods Inventory: 20\\% of next Qtr Sales - Desired Ending Raw Material Inventory: \30 of next Qtr Production - Beginning Inventory Balances for Production and Material follow the same percentage relationships - Each unit requires 2 pounds of material, at \\$5 per pound Answer the following questions based on the data above in developing Production and Direct Material budgets: 1. Compute the Production Units Required for Qtr I (7 pts) 2. Compute the Production Units Required for Qtr 2 (7 pts) 3. Compute the total pounds of Direct Material Purchases for Qtr 1 (8 pts) 4. Compute the total cost of Direct Material Purchases for Qtr 1 (3 pts) Present Value of an Annuity