Esquire Products, Inc. expects the following monthly sales: January 24,000 February 15,000 March 8,000 April 10,000 May 4,000 June 2,000 July 18,000 August 22,000 September 25,000 October 30,000 November 38,000 December 20,000 Cash sales are 40 percent in a given month, with the remainder going into accounts receivable. All receivables are collected in the month following the sale. Esquire sells all of its goods for $2 each and produces them for $1 each. Esquire uses level production, and average monthly production is equal to annual produc1ion divided by 12. a. Generate a monthly production and inventory schedule in units. Beginning inventory in January is 8,000 units. (Note: To do part a, you should work irl terms of units of production and units of sales.) b. Determine a cash receipts schedule for January through December. Assume that 55 sales in the prior December were $20,000. Work part b using dollars. c. Determine a cash payments schedule for January through December. The produc1ion costs ($1 per unit produced) are paid for in the month in which they occur. Other cash payments (besides those for production costs) are $7,000 per month. d. Construct a cash budget for January through December using the cash receipts schedule from part and the cash payments schedule from part c. The beginning cash balance is $3,000, which is also the minimum desired. Solution Esquire Products, Inc. a. Produc1ion and inventory schedule in units