Backyard Warehouse makes backyard birdhouses. The company sells the bituhouses to home improvernent stores for $20 per birdhouse. Each The company would also like to mantain an ending stock of finished birdhouse requires 1.0 board feet of wood, which the company obtains at a birdhousos equal to 10% of the next month's sales. Sales data for cost of $2 per board foot. The company would like to maintain an ending stock of wood equal to 25% of the next montin's prodiction requirements the compary is as follows: (Click the icon to view the sales data) (Dlick the con to vilw additionst data) Read the ceguitements Data table More info In any given month, 20% of the total sales are cash sales, while the remainder are credit sales. The company's collection history indicates that 80% of credit sales is collected in the month after the sale, 10% is collected two months after the salo, 4% is collecled three months after the sale, and the remaining 6% is never collected. Assume that the total cost of diect materials purchases in December. Was $520,000 The company pays 60% of its direct materials purchases in the month of purchase, and pays the remaining 40% in the month atter purchase Requirement 2. Prepare the production budget for the first three months of the year, as well as a summary budget for the quarter: Requirement 3. Prepare the direct materials purchases budget for the first three months of the year. as well as a summary budget for the quarter. Assume the company needs 130,000 board feet of wood for production in April. (Round your answers to the neasest whole dollar)