XYZ Company is a manufacturing company that produces a single product. XYZ has provided the

following sales budget for fiscal $2024,$ plus the first quarter of $2025$

$2024$ Q$12024$ Q$22024$ Q$32024$ Q$42025$ Q$1$

Budgeted unit sales $27,00029,00034,00032,00028,000$

XYZ has also provided the following additional information

i$.$ Each unit sells for $$30$

ii$.$ XYZ sells to its customers on account. XYZ collects payments on $80\%$ of sales during the quarter

that the sale is made, with the remaining $20\%$ being received the following quarter.

iii. At the end of $2023$ the accounts receivable balance was $$225,000$

iv$.$ At the end of $2023$ XYZ had $4,050$ units of inventory held in finished goods inventory.

v$.$ XYZ keeps an amount of finished goods inventory on hand so that the ending balance each

quarter is equal to $15\%$ of budgeted sales for the following quarter.

Required:

$1.$ Prepare the company$$s sales budget and schedule of expected cash collections

$2.$ Prepare the company$$s production budget for the upcoming fiscal year