P9-65B Comprehensive budgeting problem (Learning Objectives 2 & 3) Requirements 1. Prepare a schedule of cash collections for January, February, and March, and for the quarter in total. 2. Prepare a production budget. (Hint: Unit sales = Sales in dollars / Selling price per unit.) 3. Prepare a direct materials budget. 4. Prepare a cash payments budget for the direct material purchases from Requirement 3. 5. Prepare a cash payments budget for conversion costs. 6. Prepare a cash payments budget for operating expenses. 7. Prepare a combined cash budget. 8. Calculate the budgeted manufacturing cost per unit (assume that fixed manufacturing overhear is budgeted to be $0.80 per unit for the year). 9. Prepare a budgeted income statement for the quarter ending March 31. (Hint: Cost of goods sold = Budgeted cost of manufacturing each unit x Number of units sold)