please answer part 8-12

To prepare a master budget for April, May, and June, management gathers the following information. a. Sales for March total 20,500 units. Budgeted sales in units foliow. April, 20,500; May, 19,500; June, 20,000, and July, 20,500 the product's selling price is $24.00 per unit and its total product cost is $19.85 per-unit. b. Raw materials inventory consists solely of direct matenals that cost $20 per pound. Company policy calls for a given month's endina materials inventory to equal 50% of the next month's direct materials requirements. The March 31 raw materials inventory is 4.925 pounds. The budgeted June 30 ending raw materials inventory is 4.000 pounds. Each finished unit requires 0.50 pound of direl materials c. Company policy calls fora given month's ending finished goods inventory to equal 80% of the next month's budgeted unit gnter. The March 31 finished goods inventory is 16,400 units. d. Each finished unit requires 0.50 hour of direct labor at a rate of $15 per hour. e. The predeleimined variable overhead rate is $270 per direct labor hour. Depreciation of $20,000 per month 15 the only fised f. Salts cominissions of 8 in of sales are paid in the month of the sales. The sales manager's monthly salary is $3,000. 9. Monthiy gencral and udiministrative expenses include $12.000 for administrative salaries and 0.9% monthly interest on the longiterm note payable h. The coinpany budgets 308 of sates to be for cash and the remaining 70% on credit. Credit sales are collected in fuls in the month tactocy ovemhead ttem. f. Sales coinimissionis of 8% of sales ate paid in the month of the sales. The sales manager's monthly salary is $3.000. g. Monthly general and administrative expenses include $12,000 for administrative salaries and 0.98 monionth interest on the iongterm note piyatile: h. The company budgets 308 of sales to be for cash and the remaining 70% on credit, Credit sales are collected in full in the maith following the sale (no credit sales are collected in the month of sale) i. All raw materials purchases are on credit, and accounts payable are solely tied to raw materials purchases. Raw materials purchases are fully poid in the next month (none are paid in the month of purchase). j. The minumum ending cash balance for all months is $40,000. If necessapy, the company botrows enough casit using a loan to reach the minimum. Loans require an interest payment of 1% at each monthend (before any repaymenty. If the month-end preliminary cash bolance exceeds the minimum, the excess will be used to repay any loans. k. Dlvidends of $10,000 are budgeted to be declared and paid in May. 1. No casiy payments for income taxes are budgeted in the second calendat quarter. Income tax will be assessed at 359 in the guarter and budgeted to be pold in the third calendar quarter. m. Equipment purchases of $100,000 are budgeled for the last day of June. Required: Prepare the following budgets for the months of April, May, and Jarie: 1. Sales budget. 2. Production budget. 3. Direct materiats budget. 4. Brect labor budget. 7. Factory overhead budget. 6. Seling experise budget. 7. General and administrative expense bucdget. 8. Schedule of cash teceipts. 9. Schedule of cash payments for direct materiais: 10. Casla budget 11. Budgeted incame statement for entire second quarter (not monthly) 12. fiudgeted balance sheet at Jane 30