Exercise 2 (7 points) Glynn Company is preparing a budget to determine the amount of part G12 to produce for the first quarter of the year, and the amount of resin to purchase for part G12. The company wants to have 50% of the next month's estimated sales of G12 in inventory at the end of each month. Glynn has a very reliable supplier of resin and therefore wants an ending inventory of only 10% of resin needs for the next month's production. Each unit of G12 requires half a pound of resin. Projected sales of G12 for January, February, and March are 50,000 units, 60,000 units, and 54,000 units, respectively. Required a. How many units of part G12 will Glynn budget to produce in January and February? b. How many pounds of resin will Glynn budget to purchase in January? Exercise 3 ( 7 points) Jeren Company is considering replacing its existing cutting machine with a new machine that will help reduce its defect rate. Relevant information for the two machines includes the following: Required a. Determine the sales level, in number of units, at which the costs are the same for both machines. b. Determine the sales level in dollars at which the use of the new machine results in a 10% profit on sales (profit/sales) ratio * Provide you Answer in an Excel file that you create and Upload to Canvas