Problem 1. Door & Window Co. was organized on August I of the current year. Projected sales for the next three months are as follows: August September October $120,000 200,000 230,000 The company expects to sell 40% of its merchandise for cash. Of the sales on account, 25% are expected to be collected in the month of the sale and the remainder in the following month. Prepare a schedule indicating total cash collections for August, September, and October. 2. Compute the standard cost for one hat, based on the following standards for each hat: Standard Material Quantity: 12 yard of fabric at $5.00 per yard Standard Labor: 2 hours at $5.75 per hour $3.20 per direct labor hour Factory Overhead