4 O points eBook Freese Incorporated is in the process of preparing the fourth quarter budget for 2022, and the following data have been assembled: The company sells a single product at a price of $50 per unit. The estimated sales volume for the next six months is as follows: September October November December 26,000 units 24,000 units 28,000 units January February 40,000 units 18,000 units 20,000 units . All sales are on account. The company's collection experience has been that 33% of a month's sales are collected in the month of sale, 65% are collected in the month following the sale, and 2% are uncollectible. It is expected that the net realizable value of accounts receivable (i.e., accounts receivable less allowance for uncollectible accounts) will be $845,000 on September 30, 2022. Management's policy is to maintain ending finished goods inventory each month at a level equal to 40% of the next month's budgeted sales. The finished goods inventory on September 30, 2022, is expected to be 9,600 units. To make one unit of finished product, five pounds of materials are required. Management's policy is to have enough materials on hand at the end of each month to equal 30% of the next month's estimated usage. The raw materials inventory is expected to be 38,400 pounds on September 30, 2022. The cost per pound of raw material is $4, and 75% of all purchases are paid for in the month of purchase; the remainder is paid in the following month. The accounts payable for raw material purchases is expected to be $126,600 on September 30, 2022. Required: a. Prepare a sales budget in units and dollars, by month and in total, for the fourth quarter (October, November, and December) of 2022. b. Prepare a schedule of cash collections from sales, by month and in total, for the fourth quarter of 2022. c. Prepare a production budget in units, by month and in total, for the fourth quarter of 2022. d. Prepare a materials purchases budget in pounds, by month and in total, for the fourth quarter of 2022. e. Prepare a schedule of cash payments for materials, by month and in total, for the fourth quarter of 2022.

Freese incorporated is in the process of preparing the fourth quarter budget for 2022 , and the following data have been assembled: - The company sells a single product at a price of $50 per unit. The estimated sales volume for the pext six months is as follows: - All saies are on account. The company's collection experlence has been that 33% of a month's sales are collected in the month of sale, 65% ore collected in the month following the sale, and 2% are uncollectble, it is expected that the not realizable value of accounts receivable (i.e, accounts recelvable less alsowance for uncollectible accounts) will be $845,000 on September 30,2022 - Management's policy is to maintain ending finished goods inventory each month at a level equal to 40% of the next month's budgeted sales, The finished goods inventory on September 30,2022 , is expected to be 9,600 units. - To make one unit of finished product, five pounds of materials are required. Management's policy is to hove enough moterials on hand at the end of each month to equal 30% of the next month's estimated usage. The raw moterials inventory is expected to be 38,400 pounds on Sept 38,400 pounds on September 30,2022. - The cost per pound of raw materlat is $4, and 75% of all purchases are paid for in the month of purchase: the remoinder is paid in the following month. The accounts payoble for raw material purchases is expected to be $126.600 on September 30,2022 Required: a. Prepare a sales budgot in units and dothars, by month arid in totak, for the fourth quarter (Octobec, November, and December) of 2022. b. Prepare a schedule of cash collections from sales, by month and in total, for the fourth quarter of 2022 c. Prepare a production budget in units, by month and in totat, for the fourth quarter of 2022 d. Prepare a materials purchases budget in pounds, by month and in fota, for the fourth quarter of 2022 . e. Prepare a schedule of cash poyments for materias. by month and in total, for the fourth quartor of 2022 . Required: a. Prepare a sales budget in units and dollars, by month and in total, for the fourth quarter (October, November, and December) of 2022. b. Prepare a schedule of cash collections from sales, by month and in total, for the fourth quarter of 2022. c. Prepare a production budget in units, by month and in total, for the fourth quarter of 2022. d. Prepare a materiais purchases budget in pounds, by month and in total, for the fourth quarter of 2022. e. Prepare a schedule of cash payments for materials, by month and in total, for the fourth quarter of 2022. Complete this question by entering your answers in the tabs below. Prepare a sales budget in units and doliars, by month and in total, for the fourth quarter (October, November, and December) of 2022 . Required: 3. Prepare a sales budget in units and dollars, by month and in total, for the fourth quarter (October, November, and December) of 2022. b. Prepare a schedule of cash collections from sales, by month and in total, for the fourth quarter of 2022. c. Prepare a production budget in units, by month and in total, for the fourth quarter of 2022. d. Prepare a materials purchases budget in pounds, by month and in total, for the fourth quarter of 2022. e. Prepare a schedule of cash payments for materials, by month and in total, for the fourth quarter of 2022. Complete this question by entering your answers in the tabs below. Prepare a schedule of cash collections from sales, by month and in total, for the fourth quarter of 2022. the following month. The accounts payable for raw material purchases is expected to be $126,600 on September 30,2022 . Required: a. Prepare a sales budget in units and dollars, by month and in total, for the fourth quarter (October, November, and December) of 2022. b. Prepare a schedule of cash collections from sales, by month and in total, for the fourth quarter of 2022. c. Prepare a production budget in units, by month and in total, for the fourth quarter of 2022. d. Prepare a materials purchases budget in pounds, by month and in total, for the fourth quarter of 2022 e. Prepare a schedule of cash payments for materials, by month and in total, for the fourth quarter of 2022. Complete this question by entering your answers in the tabs below. Prepare a production budget in units, by month and in total, for the fourth quarter of 2022. Required: a. Prepore a sales budget in units and dollars, by month and in total, for the fourth quarter (October, November, and December) of 2022 b. Prepare o schedule of cash collections from sales, by month and in total, for the fourth quarter of 2022. c. Prepare a production budget in units, by month and in total, for the fourth quarter of 2022. d. Prepare a materials purchases budget in pounds, by month and in total, for the fourth quarter of 2022 . e. Prepare a schedule of cash payments for materials, by month and in total, for the fourth quarter of 2022 . Complete this question by entering vour answers in the tabs below. Prepare a moterials purchases budget in pounds, by month and in total, for the fourth quarter of 2022. - The cost per pound of raw material is $4, and 75% of all purchases are poid for in the month of purchase; the remainder is paid in the following month, The accounts payabie for raw material purchases is expected to be $126,600 on September 30,2022 . Required: a. Prepare a sales budget in units and dollars, by month and in fotal, for the fourth quarter (Octobec, November, and Docember) of 2022. b. Prepare a schedule of cash collections from sales, by month and in total, for the fourth quarter of 2022. c. Prepare a production budget in units, by month and in total, for the fourth quarter of 2022. d. Prepare a materials purchases budget in pounds, by month and in total, for the fourth quarter of 2022 . e. Prepare a schedule of cash payments for materials, by month and in total, for the fourth quarter of 2022. Complete this question by entering your answers in the tabs below