Version 5 Part 1 The data below pertains to the first quarter of Alpha Company which manufactures toys. Below is the estimated sales in units): January February March April May June 30,000 50,000 60,000 70,000 55,000 40,000 per unit. a. The selling price of the toy is $16] I b. All sales are on account. Based on past experience, sales are collected in the following pattern: Month of sale Month following sale Uncollectible 25% 70% 5% c. Sales for December of last year totaled $180,000 d. The company maintains finished goods inventories equal to 15% of the following month's sales. e. Each toy requires 2 kilos of raw materials. The company requires that the ending inventory of raw materials be equal to 20% of the following month's production needs. & The raw material costs $1.40 per kilo. h. 30% of a month's purchases of raw materials is paid for in the month of purchase; the remainder is paid after two months The accounts payable on December 31 of last year was $32,000. Prepare: a. Prepare a sales budget, by month and in total, for the first quarter. (3 marks) b. Prepare a schedule of expected cash collections, by month and in total, for the first quarter. (15 marks) c. Prepare a production budget for each months of the first quarter. (10 marks) d. Prepare a direct materials budget, by month and in total, for the first quarter. (12 marks) e. Prepare a schedule of expected cash disbursements, by month and in total, for the first quarter. (15 marks) Total Dad