Big John, Inc, makes one product and it provided the following information to help prepare the master budget A. The budgeted selling price per unit is $60. Budgeted unit sales for April May June, and July are 9,500, 10,000, 10,500, and 11,000 units respectively. All sales are on credit B. 50% of credit sales are collected in the month of the sale and 50% in the following month C. The ending finished goods inventory equals 20% of the following month's unit sales D. The ending raw materials inventory equals 10% of the following month's raw materials production needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2.50 per pound. E. 60% of raw materials purchases are paid for in the month of purchase and 40% in the following month F. The direct labor wage rate is $12.50 per hour. Each unit of finished goods requires 2 direct labor hours G. The variable selling and administrative expense per unit sold is $2.00. The fixed selling and administrative expense per month is $75,000 Required Figure your solutions below and record your final answer in the space provided 1. What are the budgeted sales for May? 2. What are the expected cash collections for May? 3. What is the accounts receivable balance at the end of May? 4. According to the production budget, how many units should be produced in May? _5. If 42.400 pounds of raw materials are needed to meet production in June, how many pounds of raw materials should be purchased in May? 6. What is the estimated cost of raw materials for May? 7. In May, what are the total estimated cash disbursements for raw materials purchased? Assume the cost of raw material purchases in the previous month is 596,000