Step$-$by$-$step solutions for all sections and quarters $.$ repare a quarterly sales budget, a cash receipts budget, a production budget $($in units$),$

a direct materials purchases budget, a cash disbursements for purchases budget, a direct labor budget, an overhead

budget, and a cash budget. In addition, prepare an ending finished goods inventory budget, and an income statement for the

year. Please label each schedule. Your quarterly budgets will have $4$ quarters and a total column.