Production and purchases budgets Gillman Co. is forecasting sales of 62,000 units of product for August. To make one unit of finished product, 5 pounds of raw materials are required. Actual beginning and desired ending inventories of raw materials and finished goods are:August 1 August 31(Actual) (Desired)Raw materials (pounds) . . . . . . . . . 74,700 68,200Finished goods (units) . . . . . . . . . . . 5,900 8,300Mini-ExerciseRequired:a. Calculate the number of units of product to be produced during August.b. Calculate the number of pounds of raw materials to be purchased during August.

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