Comprehensive Budget Problem 2 The Vermont Furniture Company has provided you with the following information for tables: March April May June July Budgeted units of tables 800 900 1,000 1,200 1,300 . . . The selling price is $100 per table. The desired ending finished goods inventory is equal to 20% of the next month's sales needs. July desired ending finished goods inventory is 300. Each table requires 20 feet of wood. The wood costs $3.00 per foot. The desired wood inventory is equal to 30% of next month's production needs. 35% of sales are cash sales - 60% are credit sales - 5% are uncollectible Credit sales are collected 70% in the month of sale and 30% the following month. Purchases are paid 80% in the month of purchase and 20% in the following month. Required: Prepare a sales budget for March, April, May, June & July Prepare a units of production budget for March, April, May, June > Prepare a raw materials purchases budget for April, May & June Prepare a cash receipts budget for April, May & June > Prepare a cash disbursements budget for April, May & June