Cli th facturing is preparing its master budget for the first quarter of the upcoming year. The following data pertain to Devon Manufacturing's c Requirements - X 1. uire 2. 3. Prepare a schedule of cash collections for January, February, and March, and for the quarter in total. Prepare a production budget. (Hint: Unit sales = Sales in dollars / Selling price per unit.) Prepare a direct materials budget. 4. sh s edits tal ca Prepare a cash payments budget for the direct material purchases from Requirement 3. (Use the accounts payable balance at December 31 of prior year for the prior month payment in January.) 5. Prepare a cash payments budget for direct labor. 6. Prepare a cash payments budget for manufacturing overhead costs. 7. 8. 9. Prepare a cash payments budget for operating expenses. Prepare a combined cash budget. Calculate the budgeted manufacturing cost per unit (assume that fixed manufacturing overhead is budgeted to be $0.70 per unit for the year). 10. Prepare a budgeted income statement for the quarter ending March 31. (Hint: Cost of goods sold Budgeted cost of manufacturing one unit x Number of units sold.) Print Done view the data.) are a sch S For th (Click the icon to view additional data.) Data table Current Assets as of December 31 (prior year): Cash Accounts receivable net Ja Inventory Property, plant, and equipment, net Accounts payable Capital stock Retained earnings Print Done $ 4,500 51,000 $ 15,700 ST $ 124,000 $ 42,400 17 124,000 $ 22,600 - X Requirement 1. Prepare a schedule of cash collections for January, February, and March, and for the quarter in total. Devon Manufacturing Cash Collections Budget For the Quarter Ended March 31 Cash sales Credits sales Total cash collections Month January February March Quarter