April	May	June	July	August
Unit Sales	23,000	25,000	27,000	20,000	20,000
Sales Price	$10
Desired Ending Inventory for Finished Goods	20%	of next month's sales in units
Desired Ending Inventory for Material Units	10%	of next month's materials needed for production
Cost of one pound of materials	$0.40
Units of Direct Materials to make one unit	4
Minutes of Direct Labor to make one unit	12
Direct Labor Costs per Hour	$15
Overhead Costs percentage of Direct Labor	175 %
Minimum cash balance	$ 20,000.00
Cash collections in month of sale	65%
Cash collections in first month after sale	25%
Cash collections in third month after sale	10%
Cash Payments in month of purchase	70%
Cash Payments in the first month after purch	30%
Selling Costs per month	$ 10,000.00
Administrative Costs per month	$ 15,000.00
Annual Interest Rate for Letter of Credit	12%
Annual Interest Rate Earned on Excess Cash	4%
The beginning cash balance is $10,000; sales revenue for February and March are $300,000 and $250,000, respectively. 1.Create Overhead Budget for the quarter 2. Create Cash Receipts of Sales Revenue for the quarter.