Can someone please provide the steps of the answer got solved, please and thank you. There is Part 1 & Part 2.

PART 1

Direct Materials Purchases Budget

Anticipated sales for Sure Grip Tire Company were 32,000 passenger car tires and 13,000 truck tires. Rubber and steel belts are used in producing passenger car and truck tires according to the following table:

The purchase prices of rubber and steel are $3.60 and $4.70 per pound, respectively. The desired ending inventories of rubber and steel belts are 30,000 and 9,000 pounds, respectively. The estimated beginning inventories for rubber and steel belts are 35,000 and 7,000 pounds, respectively.

Prepare a direct materials purchases budget for Sure Grip Tire Company for the year ended December 31, 2014. When required, enter unit prices to the nearest cent.

PART 2

Schedule of Cash Collections of Accounts Receivable

PetJoy Wholesale Inc., a pet wholesale supplier, was organized on March 1, 2014. Projected sales for each of the first three months of operations are as follows:

The company expects to sell 10% of its merchandise for cash. Of sales on account, 52% are expected to be collected in the month of the sale, 43% in the month following the sale, and the remainder in the second month following the sale.

Prepare a schedule indicating cash collections from sales for March, April, and May.

eBook Direct Materials Purchases Budget Anticipated sales for Sure Grip Tire Company were 32,000 passenger car tires and 13,000 truck tires. Rubber and stee the following table: Passenger CarTruck Rubber Steel belts 4 lbs. per unit 10 lbs. per unit The purchase prices of rubber and steel are $3.60 and $4.70 per pound, respectively. The desired ending inventories o estimated beginning inventories for rubber and steel belts are 35,000 and 7,000 pounds, respectively. 29 Ibs, per unit 68 lbs, per unit