Data table More info In any given month, 10% of the total sales are cash sales, while the remainder are credit sales. The company's collection history indicates that 70% of credit sales is collected in the month after the sale, 20% is collected two months after the sale, 6% is collected three months after the sale, and the remaining 4% is never collected. Assume that the total cost of direct materials purchases in December was $560,000. The company pays 60% of its direct materials purchases in the month of purchase, and pays the remaining 40% in the month after purchase. Friensly Feoders makes backyard birdhouses. The oompany nells the birchouses to home improvernent stores for $12 per birchouse. Each birdhouse requites 1.0. The company would also the to mantain an onding stock of finishad board feat of wood, which the company obtairs at a cost of $3 per board foot. The company would like to maintain an ending slock of wood equal to 10% of the next monthis production raquiraments bicidiouses equal fo 25 No of the next rnonth's thies. Satos data for the company it as followi: (Click the isont to vew the mifes diata) (Clok the icon lo vienv additional dafa) Read the ceguirements: Requirement 1. Prepare the sales budget for the first three moriths of the year, as well as a surrmary budget for the quarer, including it separale soction that dotails the type of sales made (cash versas credit.) Requirement 2. Prepare the production budget for the first three months of the year, as well as a summary budget for tho quartor: Friendly Feeders Production Budaet Requirement 3. Prepare the diroct materiais purchasos budgot for the fint throe months of the yoar, as woll as a surrenary budget for the quavtir: Assume the company needs 140,000 board feet of wood for prodiction in April, (Round your answers to the nearest whicio dollar) Requirement 3. Prepare the direct materials purchases budgot for the first three months of the year, as well as a surnmary budget for the quarier, Assume the company neods 140,000 board feet of wood for production in April. (Round your answers to the noarest whole dollar.) Less: Begirining inventory of DM Quantity (board teet) to purchash Mustiply by: Cost per board foot Total cost of DM purchases nenest whole dolial I Preverw thin stifis toudgef prepared in Pocurament 1 . Requirement 5. Prepare the cash payments budget for direct materials purchases for the monitis of January, February, and March, ov weif as a suntring for the fist quarter. Foview the diroct maturithe budget prepared in Requarerunt 3