Current Attempt in Progress Novak Company is preparing its master budget for 2022. Relevant data pertaining to its sales, production, and direct materials budgets are as follows Sales: Sales for the year are expected to total 1,300,000 units. Quarterly sales are 25%, 25%, 25%, and 25%, respectively. The sales price is expected to be $39 per unit for the first three quarters and $ 44 per unit beginning in the fourth quarter Sales in the first quarter of 2023 are expected to be 10% higher than the budgeted sales for the first quarter of 2022. Production: Management desires to mainain the ending finished goods inventories at 20% of the next quarter's budgeted sales volume Direct materials: Each unit requires 2 kg of raw materials at a cost of $ 10 per kilogram. Management desires to maintain raw materials inventories at 10% of the next quarter's production requirements. Assume the production requirements for the first quarter of 2023 are 580,000 kg Prepare the production budget by quarters for 2022. (Round answers to 2 decimal places, es. 15.25) NOVAK COMPANY Production Budget (in thousands) For the Year Ending December 31, 2022 Quarter 1 2 3 Unit sales 325 325 325 Add : Ending inventory 65 65 65 Total required 390 390 390 Less : Beginning inventory 78 78 78 Total 468 468 1468