Name: Date: Score: Program-Year-Section: Professor: Exercise 3 (Production Budget) Gabriel Telecom has budgeted the sales of its innovative mobile phone over the next four months as follows: Sales in Units July ...... 45,000 August ...... 40,000 September ...... 50,000 October ........ 70,000 The company is now in the process of preparing a production budget for the third quarter. Past experience has shown that end-of-month inventories of finished goods must equal 10% of the next month's sales. The inventory at the end of June was 4,500 units. Required: Prepare a production budget for the third quarter showing the number of units to be produced each month and for the quarter in total