Assume that Stillwater Designs produces two automotive subwoofers: S12L7 and S12L5. The S12L7 sells for $475, and the S12L5 sells for $300. Projected sales (number of speakers) for the coming five quarters are as follows: S12L7 S12L5First quarter, 20X1 1,120 1,820Second quarter, 20X1 3,080 1,960Third quarter, 20X1 7,840 7,420Fourth quarter, 20X1 6,440 5,460First quarter, 20X2 1,260 1,680The vice president of sales believes that the projected sales are realistic and can be achieved by the company. Stillwater Designs needs a production budget for each product (representing the amount that must be outsourced to manufacturers located in Asia). Beginning inventory of S12L7 for the first quarter of 20X1 was 340 boxes. The company's policy is to have 20% of the next quarter's sales of S12L7 in ending inventory. Beginning inventory of S12L5 was 170 boxes. The company's policy is to have 30% of the next quarter's sales of S12L5 in ending inventory. Required: Prepare a sales budget for each quarter of 20Y1 and for the year in total. Show sales by product and in total for each time period. Stillwater Designs Sales Budget For the Year Ended December 31, 20Y1 1st Qtr. 2nd Qtr. 3rd Qtr. 4th Qtr. Year S12L7: Units Price $ $ $ $ $ Sales $ $ $ $ $ S12L5: Units Price $ $ $ $ $ Sales $ $ $ $ $ Total sales $ $ $ $ $ Feedback How will Stillwater Designs use this sales budget