8-2 in excell doc please

June To April May $300,000 $500,000 $200,000 $1.000 DO Budgeted sales (all on account) From past experience, the company has learned that 20% of a month's sales are collector the month of sale, another 70% are collected in the month following sale, and the remaining are collected in the second month following sale. Bad debts are negligible and can be liste February sales totaled $230,000, and March sales totaled $260,000 Required 1. Using Schedule 1 as your guide, prepare a schedule of expected cash collections from la by month and in total, for the second quarter. 2. What is the accounts receivable balance on June 30th? EXERCISE 8-2 Production Budget L08-3 Down Under Products, Lad.. of Australia has budgeted sales of its popular boomerang for the next four months as follows: Unit Sales April May June. July 50.000 75.000 90.000 80,000 The company is now in the process of preparing a production budget for the second quarter. Pas experience has shown that end-of-month inventory levels must equal 10% of the following month's unit sales. The inventory at the end of March was 5,000 units Required: Using Schedule 2 as your guide, prepare a production budget by month and in total, for the second quarter EXERCISE 8-3 Direct Materials Budget LOB-4 Three grams of musk oil are required for each bottle of Mink Caress, a very popular perfume made by a small company in western Siberia. The cost of the musk oil is $1.50 per gram. Budgeted pro duction of Mink Caress is given below by quarters for Year 2 and for the first quarter of Year Year 2 First Second Third Fourth 60.000 90.000 150.000 100.000 70.000 Year First Budgeted production, in bottles Musk oil has become so popular as a perfume ingredient that it has become necessary to cart large inventories as a precaution against stock-outs. For this reason, the inventory of musk oil at the end of a quarter must be equal to 20% of the following quarter's production needs. Some 36.000 grams of musk oil will be on hand to start the first quarter of Year 2