Dalton Manufacturing is preparing its master budget for the first quarter of the upcoming year. The following data pertain to Dalton Manufacturing's operations: (Click the icon to view the data.) (Click the icon to view additional data.) Read the requirements. Data table Current Assets as of December 31 (prior year): Requirement 1. Prepare a schedule of cash collections for January, February, and March, and for the quarter in total. Cash $ 4,600 Dalton Manufacturing Cash Collections Budget For the Quarter Ended March 31 Accounts receivable, net $ 50,000 Inventory $ 15,700 Month January February March Quarter Property, plant, and equipment, net Accounts payable. $ 120,000 $ 43,000 Capital stock. $ 123,500 Cash sales Credits sales Total cash collections Retained earnings. $ 22,900 More info a. Actual sales in December were $71,000. Selling price per unit is projected to remain stable at $12 per unit throughout the budget period. Sales for the first five months of the upcoming year are budgeted to be as follows: January $ 99,600 February $ 118,800 March. $ 115,200 $ 108,000 $ 103,200 April. May... b.Sales are 35% cash and 65% credit. All credit sales are collected in the month following the sale. c. Dalton Manufacturing has a policy that states that each month's ending inventory of finished goods should be 10% of the following month's sales (in units). d. Of each month's direct material purchases, 20% are paid for in the month of purchase, while the remainder is paid for in the month following purchase. Three pounds of direct material is needed per unit at $2.00 per pound. Ending inventory of direct materials should be 20% of next month's production needs. e. Most of the labor at the manufacturing facility is indirect, but there is some direct labor incurred. The direct labor hours per unit is 0.05. The direct labor rate per hour is $9 per hour. All direct labor is paid for in the month in which the work is performed. The direct labor total cost for each of the upcoming three months is as follows: January. $ 3,807 February $ 4,442 March.......... $ 4,293 Get more help f. Monthly manufacturing overhead costs are $5.500 for factory rent$2.000