Birdfeeders Unlimited makes backyard birdfeeders. The company sells the birdfeeders to home improvement stores for $15 per birdfeeder. Each birdfeeder requires 1.5 board feet of wood, which the company obtains at a cost of $4 per board foot. The company would like to maintain an ending stock of wood equal to 10% of the next month's production requirements. The company would also like to maintain an ending stock of finished birdfeeders equal to 20% of the next month's sales. Sales data for the company is as follows: Units October actual sales (prior year) November actual sales (prior year) 92,000 85,000 78,000 80,000 90,000 December actual sales (prior year) January projected sales February projected sales March projected sales April projected sales 95,000 105,000 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 sale, 6% is collected three months after the sale, and the remaining 4% is never collected. Assume that the total cost of direct materials purchases in December was $555,000. The company pays 45% of its direct materials purchases in the month of purchase and pays the remaining 55% in the month after purchase 1. Prepare the sales budget for the first 3 months of the year 2. Prepare the production budget for the first 3 months of the year 3. Prepare the DM purchases budget for the first 3 months of year. Assume the company needs 120,000 board feet of wood for production in April. 4. Prepare the cash collections budget for January, February, and March 5. Prepare the cash payments budget for direct mater als purchases for the months of January, February and March