Blackboard XCO Remaining Time: 1 hour, 58 minutes, 00 seconds. Question Completion Status: Furniture, Inc. makes and sells a single product called a Bik. The company wants to prepare the direct material budget for the quarter ending June 30. Budgeted production of Biks for the next six months is as follows: February .7,000 Units March .7, 750 Units April .5,950 Units May 6,300 Units June 7,250 Units July 8,000 Units It takes four yards of Material A to make one Bik. The company wants to maintain monthly ending inventory of Material A equal to 20% of the following month's production needs. On March 31, 1,840 yards of Material A were on hand. The cost of Material A is $6 per yard. Required: 1. Prepare the Direct Materials Budget for April, May, June, and quarter 2. Based on the direct material budget that you prepared in requirement 1 above and assume that the direct materials purchase in February was $75,000 and in March was $80.000. Prepare the cash disbursements budget for April if the company policy for paying purchases is as follows: - 15% in the month of purchase. 65one month after purchase. - 20% two months after purchaser. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BI U S Paragraph Arial 14px A IX % OG SSS E = X2 X >IT + ABC TT