Quarter: $1(2023)2(2023)3(2023)4(2023)1(2024)2(2024)$ 

Units: $7,100$; $9,800$; $10,400$; $8,200$; $8,300$; $10,900$

$2023$ selling price is $$81\mathrm{.}00$ per unit

$2.$ 

$75\%$ of sales are collected in the quarter of sale

$22\%$ of sales are collected in the following quarter

$3\%$ of sales are collected in the second quarter following

Assume that $80\%$ of the balance in accounts receivable will be collected in the first quarter of $2023$ and $20\%$ in the second quarter of $2023$ 

$3.$ 

$5$ kg of direct material is available at a price of $$5$ per kg

$2$ hours of direct labour at a rate of $$12$ per hour

aintiaining direct material ending inventory equals $10\%$ of direct materials needed for the next quarters production requirements

$50\%$ are paid for in the quarter of purchase, the remaining in the following quarter

Ending finished goods inventory equal to $10\%$ of next quarters forecasted sales. THERE IS NO BEGINNING OR ENDING WORK IN PROCESS INVENTORY

Direct Labor are paid at the end of each month. Prepare a master budget for each quarter of $2023$ and for the

year in total. The following component budgets must be included:

a$.$ Beginning balance sheet $($classified$)$ as at the end of $2023.$

b$.$ Quarterly Sales budget.

c$.$ Quarterly Schedule of receipts.

d$.$ Quarterly Production budget.

e$.$ Quarterly Direct materials purchases budget.

f$.$ Quarterly Schedule of disbursements for materials.