c. A merchandise purchases budget in units and in dollars. Show the budget by month and in total. (Round unit cost of purchases to 1 decimal place.) d. A schedule of expected cash disbursements for merchandise purchases, by month and in total. A cash budget. Show the budget by month and in total. A budgeted income statement for the three-month period ending June 30. Use the contribution approach. A budgeted balance sheet as of June 30, 2017. Based on the master budget that you prepared for the second quarter of 2017, what would you expect the results to be for the third quarter of the year. Define strategic plan, long range plan, capital budgets and a master budget. Briefly explain the major benefits of budgets. Explain the potential problems in implementing budgets. Differentiate between an operating budget and a financial budget. c. A merchandise purchases budget in units and in dollars. Show the budget by month and in total. (Round unit cost of purchases to 1 decimal place.) d. A schedule of expected cash disbursements for merchandise purchases, by month and in total. A cash budget. Show the budget by month and in total. A budgeted income statement for the three-month period ending June 30. Use the contribution approach. A budgeted balance sheet as of June 30, 2017. Based on the master budget that you prepared for the second quarter of 2017, what would you expect the results to be for the third quarter of the year. Define strategic plan, long range plan, capital budgets and a master budget. Briefly explain the major benefits of budgets. Explain the potential problems in implementing budgets. Differentiate between an operating budget and a financial budget