2) Budget Corporation has the following budgeted sales for the next six-month period: Month Unit Sales September 60,000 October 80,000 November 140,000 December 100,000 January 120,000 80,000 February There were 30,000 units of finished goods in inventory at the beginning of September. Plans are to have an inventory of finished products that equal 20 percent of the unit sales for the next month. Five kilograms of materials are required for each unit produced. Each kilogram of material costs $10. Inventory levels for materials are equal to 30 percent of the needs for the next month. Materials inventory on September 1 was 10,000 kilograms. Sixty percent of purchase are paid in the month of purchase, 30% in the following month, and 10% two months after purchase. On September 1 accounts payable was $25,000 ($18,750 to be paid in September and $6,250 to be paid in October). Each unit is sold for $50. Sales collection are 40% cash. Credit sales collection is 25% in the month of sale, 70% in the following month and 5% in the second month after sale. On September 1st accounts receivable is $30,000 ($28,000 to be collected in September and $2,000 to be collected in October. Cost of goods sold is 30% of sales. Required: a. Prepare production budgets in units for September to December. Prepare a purchases budget in kilograms for September to December. Prepare cash disbursements budget for September to December. b. C. d. Prepare cash collection budget for September to December. e. Determine cost of ending inventory for materials and finished product for December. f. Determine the balance in accounts payable and accounts receivable for December.