Using the below information open an excel file and create a Sales Budget, a Schedule of Cash Receipts, a Production Budget, a Raw Materials Budget, and a Schedule of Cash Dispersments for Raw Materials for Fiwrt for the months of Oct, Nov, and Dec including the quarterly totals. Make sure to use proper format including dollar signs and headers - this will count in the grade. Upload the excel file as your response.

Fiwrt Corporation manufactures and sells stainless steel coffee mugs. Expected mug sales (in units) are expected to be as follows: September 32,000, October 30,000, November 36,000, December 34,000, and January 35,000.

Selling Price is expected to be $8 per mug. 40% of sales are on account. All sales on account are collected in the following month. Fiwrt likes to maintain a finished goods inventory equal to 30% of the next month's estimated sales.

I need help with this part below. I think I have everything else right.

Fiwrt uses 1.5 lb of ceramic for each mug which costs an average of $2 per lb. History has shown they should maintain a raw material inventory equal to 25% of the next month's needs.

They pay for their purchases 50% in the current month and 50% in the month following purchase.