Exercise 20.6 (Algo) Manufacturing: production budgets LO P1 Electro Company manufactures transmissions for electric cars. Management reports ending finished goods inventory for the first quarter at 156.000 unts. The following unit sales are budgeted during the rest of the year: second quarter, 390,000 units, third quarter, 478,000 uniss and fourth quarte, 303,000 units Company policy calls for the ending finished goods inventory of a quarter to equal 40% of the nekt quarter's budgeted unit sales. Prepare a production budget for both the second and third quarters that shows the number of transmissions to manufacture. Exercise 20-17 (Algo) Preparation of cash budgets (for three periods) LO P2 Kayak Company budpeted the following cash receipts (excluding cash recelpts from loans recelved) and cash payments (excluding cash payments for loan principal and interest payments) for the first three months of next year: Kayak requires a minimum cash balance of $30,000 at each month end, Loans taken to meet this requirement charge 1%, interest per month, poid at each month-end. The interest is computed based on the beginning balance of the loan for the month. Any preliminary cash balance above $30,000 is used to repay loans at month.end. The company has a cash balance of $30.000 and a foan balance of $60,000 at January 1 . Prepare monthly cash budgets for January, February, and March. (Negotive bolances and Loon repoyment amounts (if ony) should be indicoted with minus sign.) Exercise 20.18 (Algo) Schedule of cash receipts LO P2 Jasper Company has 63% of its sales on credit and 37% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $527,000 for Apri, $537,000 for May, and \$562,000 for June. Total sales for March are $309,000, Prepare a schedule of cash recelpts from sales for April, May, and June