1. Sales Budget Johnson Inc. sells high-tech staplers. Johnson is preparing budgets for the quarter ending September 30, 2017. The sales price is $35 per stapler. Johnson expects the following number of units to be sold in the coming year: July August September October 12,000 14,000 14,500 15,000 Required Prepare a sales budget for the third quarter of the coming year, showing units and sales revenue by month and in total for the quarter. Check Figure: Total projected sales revenue for the quarter -$1,417,500 2. Production Budget: Johnson wants ending inventory to be 25 percent of the next month's budgeted sales in units. 3,000 units were on hand June 30. Required: Prepare a production budget for the third quarter of the year. Show the number of staplers that should be produced each month as well as for the quarter in total. Check Figure: Total budgeted product units to produce for the quarter-41,250 3. Materials Purchases Budget: Two sheets of metal are required to produce a single stapler. Johnson wants to have materials on hand at the end of each month equal to 10 percent of the following month's production needs. The materials inventory on June 30 is 2,500 sheets of metal. October production is budgeted for 15,125 units. Required Prepare a direct materials purchases budget for metal sheets for the quarter ending September 30. Show how many sheets of metal should be purchased each month as well as for the quarter in total. Check Figure: Total budgeted units of material to purchase for the quarter-83,025 4. Cash Payments of Materials Purchases: Johnson Inc. purchases raw materials on account for use in production. Sheets of metal used in production cost S3.00 each. Forty percent of a month's purchases are paid for in the month of purchase; the other 60 percent is paid for in the following month. No discount terms are available. The accounts payable balance on June 30 is S43,200