Progressive Learning prepared the following budgets: 6. (Click the icon to view the budgets.) Progressive Learning has decided to revise its budget to show fourth quarter sales of 850 tablets due to the expectation of increased holiday sales: First quarter sales for the following year are expected to be 1,000. The company desires to have an ending Finished Goods inventory each quarter equal to 20% of the next quarter's sales. Read the cequirements. Requirement 1a. Revise the sales budget. More info More info Progressive Learning Direct Materlals Budget For the Year Ended December 31, 2027. More info Progressive Learning Manufacturing Overhead Budget More info Progressive Learning Cost of Goods Sold Budget For the Year Ended December 31, 2027 Progressive Learning Selling and Administrative Expense Budget For the Year Ended December 31, 2027 Progressive Learning Selling and Administrative Expense Budget For the Year Ended December 31, 2027 - Supplies expense is 2% of sales revenue. Requirements 1. Revise the following budgets: a. Sales budget b. Production budget 2. Describe how the following budgets will be affected (without revising the budgets): a. Direct materials budget b. Direct labor budget c. Manufacturing overhead budget d. Cost of goods sold budget e. Selling and administrative expense budget