equirement: Using the data given above, prepare the following budgets along with other supportive schedules for the quarter (April- May June) of the year 2021.

1- Sales Budget

2- Production Budget .

3-Cash budget

4-Cash collection schedule

5-Cash payment schedule

6-Variable Manufacturing cost schedule

7- labor cost budget

Inch artisan studio is currently reviewing their production data for a new product called (MERAKI) for 2021 Ramadan season. The management of Inch artisan studio needs your help to prepare a budgeted figure for this new product. The owner of Inch artisan studio has provided the following data: Budgeted sales for the next five months are as follows: Feb Mar May Jun Jul 5 10 20 10 5 6 Apr . . Unit selling price SR 520 Inch needs the finished closing stock equals to 5 + 15% of the following month's budgeted sales in units. A sheet of acrylic can make 10 MERAKI, each sheet of acrylic costs SR 250. Inch would like the raw materials closing stock equals to 1 sheet, and at the end of Feb Inch has 2 sheets of acrylic. 2 labor hours are required for each unit produced, each hour costs SR 60 and will be paid as incurred. Unit variable manufacturing overhead is SR 10 per unit, and fixed manufacturing overhead cost is SR 300 per month will be paid as incurred. 70% of sales are for cash. 30% are on credit and customers pay half of their debt in the month following sale and the balance one month after that. The sheet of acrylic is paid for one month after purchase. The closing balances at the end of March is SR 20,000. Inch pays a cash dividend of SR 4,000 in May. . . Inch artisan studio is currently reviewing their production data for a new product called (MERAKI) for 2021 Ramadan season. The management of Inch artisan studio needs your help to prepare a budgeted figure for this new product. The owner of Inch artisan studio has provided the following data: Budgeted sales for the next five months are as follows: Feb Mar May Jun Jul 5 10 20 10 5 6 Apr . . Unit selling price SR 520 Inch needs the finished closing stock equals to 5 + 15% of the following month's budgeted sales in units. A sheet of acrylic can make 10 MERAKI, each sheet of acrylic costs SR 250. Inch would like the raw materials closing stock equals to 1 sheet, and at the end of Feb Inch has 2 sheets of acrylic. 2 labor hours are required for each unit produced, each hour costs SR 60 and will be paid as incurred. Unit variable manufacturing overhead is SR 10 per unit, and fixed manufacturing overhead cost is SR 300 per month will be paid as incurred. 70% of sales are for cash. 30% are on credit and customers pay half of their debt in the month following sale and the balance one month after that. The sheet of acrylic is paid for one month after purchase. The closing balances at the end of March is SR 20,000. Inch pays a cash dividend of SR 4,000 in May