Your answer is partially correct. Try again. On December 31, 2017, Simmons had 30 acoustic guitars in stock-fewer than the desired inventory level of 80 guitars, based on the following quarter's sales. The company has budgeted for sales of 240 acoustic guitars in the first quarter of 2019. Prepare the 2018 production budget for acoustic guitars. Production Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarte Annual 280 300 325 1105 200 Budgeted unit sales Budgeted ending inventory Total units required 112 120 130 96: 96 400 430 421 1201 312 112 120 130 30 30 Beginning inventory 282 288 310 291 Budgeted LINK TO VIDEO LINK TO TEXT Your answer is partially correct. Try again. Each acoustic guitar requires a maple neck blank, which Simmons purchases for $45. On December 31, 2017, Simmons had 400 neck blanks in inventory. Spoilage during the production process results in a standard quantity of 1.5 necks per acoustic guitar. Because of recent delivery problems, Simmons wants to maintain an ending inventory equal to 50% of the following quarter's production needs. Since the supplier has assured Simmons that the delivery issues will be resolved by the end of December, Simmons wants only 150 neck blanks in inventory on December 31, 2018. Prepare the purchases budget for neck blanks for 2018. (Enter "per guitar" value to 1 decimal place, e.g. 3.1. Round all other answers to 0 decimal places, e.g. 153.) 5 Budget 2nd Quarter 1st Quarter 3rd Quarter 4th Quarter Annual 226 305 308 1123 Standard necks per guitar 1.5 42600 i 62. oo 85 Production needs 339.00 458.00 1685.00 Budgeted ending inventory 85.00 92.00 92.00 150 Total DM required (necks) 518.00 550.00 612.00 2104.00 Beginning inventory 85.00 92.00 92.00 Budgeted purchases (necks) 24.00 433.00 458.00 520.00 1435.00 Standard price per neck 45 45 45 45 Budgeted purchases cost 19485.00 20610.00 23400.00 64575.00