E22-25 Preparing an operating budget-cost of goods sold budget Refer to the budgets prepared in Excrcise E22-24. Determine the cost per kit to manufacture the model airplane kits Grady projects sales of 100, 150, 100, and 200 kits for the next four quarters. Prepare a cost of goods sold budget for the year Grady has no kits in beginning inventory Round amounts to rao decimal places E22-26 Preparing a financial budget-schedule of cash receipts, sensitivity analysis Marcel Company projects the following sales for the first three months of the year $11,200 in January, $12,300 in February, and $11,100 in March. The com pany expects 60% of the sales to be cash and the remainder on account Sales on account are collected 50% in the month of the sale and 50% in the following month. The Accounts Receivable account has a zero balance on January 1. Round to the nearest dollar. Requirements 1.Prepare a rchedule of cash receipts for Marcel for January, February, and March. What is the balance in Accounts Recehvable on March 31? 2 Prepare a revised schedule of cash receipts if receipts from sales on account are 60% in the month of the sale, 30 % in the month following the sale, and 10% in the second month following the sale. What is the balance in Accounts Receivable on March 31? E22-25 Preparing an operating budget-cost of goods sold budget Refer to the budgets prepared in Excrcise E22-24. Determine the cost per kit to manufacture the model airplane kits Grady projects sales of 100, 150, 100, and 200 kits for the next four quarters. Prepare a cost of goods sold budget for the year Grady has no kits in beginning inventory Round amounts to rao decimal places E22-26 Preparing a financial budget-schedule of cash receipts, sensitivity analysis Marcel Company projects the following sales for the first three months of the year $11,200 in January, $12,300 in February, and $11,100 in March. The com pany expects 60% of the sales to be cash and the remainder on account Sales on account are collected 50% in the month of the sale and 50% in the following month. The Accounts Receivable account has a zero balance on January 1. Round to the nearest dollar. Requirements 1.Prepare a rchedule of cash receipts for Marcel for January, February, and March. What is the balance in Accounts Recehvable on March 31? 2 Prepare a revised schedule of cash receipts if receipts from sales on account are 60% in the month of the sale, 30 % in the month following the sale, and 10% in the second month following the sale. What is the balance in Accounts Receivable on March 31