eBook Learning Objective 2 Show Me How Question Content Area Preparing a Production Budget Patrick Inc. makes industrial solvents. In the first 4 months of the coming year, Patrick expects the following unit sales: January 41,000 February 38,000 March 50,000 April 51,000 Patrick's policy is to have 25% of next month's sales in ending inventory. On January 1, it is expected that there will be 6,700 drums of solvent on hand. Required: Prepare a production budget for the first quarter of the year. Show the number of drums that should be produced each month as well as for the quarter in total. Patrick Inc. Production Budget For the Coming Quarter January February March 1st Quarter Total Sales fill in the blank 1 41,000 fill in the blank 2 38,000 fill in the blank 3 50,000 fill in the blank 4 12,900 Desired ending inventory fill in the blank 5 fill in the blank 6 fill in the blank 7 fill in the blank 8 Total needs fill in the blank 9 fill in the blank 10 fill in the blank 11 fill in the blank 12 Less: Beginning inventory fill in the blank 13 fill in the blank 14 fill in the blank 15 fill in the blank 16 Units to be produced fill in the blank 17 fill in the blank 18 fill in the blank 19 fill in the blank 20