Additional details: Below you will see yellow data boxes labeled with the letters A through M. Your instructor will provide your group with the data to enter into these boxes. This data set is unique to your group, so make sure you enter the data correctly. 4032 Average estimated selling price per electric bik $860 There are 3,360 bicycles in Bike Inventory at the end of 2021 with a value of 560,000 At the end of each quarter, CBH Company wishes to have 120% of next quarters estimated sales units in Bike Inventory. At the end of 2022 assu 2,000 bikes are required in ending inventory For each quarter, it is estimated thal 75% of sales will be cash and 25% will be credit sales. Of the credit sales, 80% pay in the quarter of the sale and 20% pay in the following quarter. Credit sales from Q4 2021 were $430,000 Assume operating expenses occur evenly throughout the year and are all paid in cash. For each quarter, 70% of Bike purchases are paid for in cash in the quarter of the purchase and 30% are paid in the following quarter. Total bike purchases in Q4 2021 were $510,000 The expected average purchase price of a bike in 2022 is $ 650 CBH Company will payl $60,000 in dividends in Q4 2022. The cash balance in the bank at the end of 202 $ 10,000 CBH Company wishes to maintain a minimum cash balance of $10,000 in the bank for each quarter. Budgeted 2022 sales volumes in units for each quarter are: 2800 Q2 2100 2400 04 3300 Selling and Administration expenses for the budgeted year are as follows; Sales Wages: Sales wages are a mixed cost (salary and commissions). CBH Company plans on estimating these costs for 2022 based on actual historical data using the high-low method. Here are the total sales in units and the total sales wages expense for the last 4 years. Units sold $ 2021 12585 135130 High Low Method 2020 12905 HL Wage: 38095 2019 11385 4730 2018 8175 137145 Q1 Q3 10600 *not sure if this is correct.. 0 8.0539 159975 173225 HL Units Schedule of receipts from customers 2023 Receipts by Quarter Qtr 2 Qtr 3 Cash Sales Credit Sales Qtr 1 Qtr 4 Qtr 1 Accounts Receivable - 31st Dec 2021 First Quarter Second Quarter Third Quarter Fourth Quarter Total Payments:- Cash Sales Credit Sales Collection of Credit sales in the quarter of the sale Collection of Credit sales in the following quarter 75% 25% 80% 20% Schedule of expected payments for Purchases Payments by Quarter Qtr 2 Qtr 3 2023 Qtr 1 Purchases Qtr 1 Qtr 4 Accounts Payable - 31st Dec 2021 First Quarter Second Quarter Third Quarter Fourth Quarter Total Payments:- Purchases paid in cash in the same quarter Purchases paid in the following quarter 70% 30%