Comprehensive Budget Problem 3 The Vermont Furniture Company has provided you with the following information for professor's desks: March April May June July Budgeted units of desks 300 500 600 700 900 . . The selling price is $80 per desk. The desired ending finished goods inventory is equal to 30% of the next month's sales needs. July desired ending finished goods inventory is 200. Each desk requires 15 feet of wood. The wood costs $2.50 per foot. The desired wood inventory is equal to 20% of next month's production needs. 57% of sales are cash sales 40% are credit sales - 3% are uncollectible. Credit sales are collected 80% in the month of sale and 20% the following month. Purchases are paid 70% in the month of purchase and 30% 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