Birdfeeders Unlimited Cash Collections Budget For the Quarter Ended March 31 \begin{tabular}{|l|l|} \hline 55 & \\ \hline 57 & Cash sales in current month \\ \hline \end{tabular} 58 Collection on credit sales: Credit sales made one month ago Credit sales made two months ago Credit sales made three months ago Total cash collections Birdfeeders Unlimited makes backyard birdfeeders. The company sells the birdfeeders to home improvement stoces: $15 Sales price per birdfeeder 1.5 Board feet of wood required for each birdteedef $4 Cost per board foot (actual) 10\% Desired ending wood inventory stated as a percontage of next month's production requirements 2095. Desired ending finished goods inventory (finished birdfeeders) stated as a percentage of next month's sales $550,000 Total cost of direct materials purchases in December 45% of direct materials purchases are paid in the month of purchase 55\% of direct materials purchases are paid in the month after purchase 1 "*DA]WA SHEET - DO NOT ENTER ANSWERS HERE** 20% of the total sales are cash sales 80% of the total sales 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 sale 6% is collected three months after the sale 4% is never collected