Comprehensive budgets

Shredder Manufacturing has the following projected unit sales $($at $$18$ per unit$)$ for four months of operations:

Twenty$-$five percent of the customers are expected to pay in the month of sale and take a $3$ percent discount $70$ percent of the customers are expected to pay in the month following sale. The remaining $5$ percent will never pay.

percent of its material purchases in the month of purchase and $40$ percent in the following month.

Shredder will begin January with no Work in Process or Finished Goods Inventory. Inventory policy for these two accounts is set at zero ending WIP and $25$ percent of the following month's sales for FG$.$

Note: Do not use negatives signs in any of the schedules below.

a$.$ Prepare a sales budget for January, February, and March.

Total sales $$450,000vv$$$40,000vv$$$576,000vv1,560,0$ and

Note: Do not use a negative sign with your answers.

c$.$ Prepare a purchases budget for January, February, and March.

Note: Do not use negative signs with your answers.

d$.$ Prepare a direct labor budget for January, February, and March.

e$.$ Prepare an overhead budget for January, February, and March.

$f.$ Prepare a cash receipts schedule for sales and a cash payments schedule for material purchased

Cash Receipts Schedule

Cash Payments Schedule