Exercise 22-6 (Algo) Manufacturing: production budgets LO P1 Electro Company manufactures transmissions for electric cars Management reports ending finished goods inventory for the first quarter at 93.600 units. The following unit sales are budgeted during the rest of the year second quarter, 468,000 units, third quartet, 448.000 units, and fourth quarter, 145,000 units. Company policy calls for the ending tinished goods inventory of a quarter to equal 20% of the next quarter's budgeted unit sales Prepare a production budget for both the second and third quarters that shows the number of transmissions to manufacture. ELECTRO COMPANY Production Budget Second Quarter Third Quarter Next penod budgeted lesunds Desired ending inventory units Total required urvits Units to produce QS 22-19 (Algo) Schedule of cash receipts LO P2 Music World reports the following budgeted sales: August $180,000; and September. $260,000. Cash sales are 60% of total sales. and all credit sales are collected in the month following the sale Prepare a schedule of cash receipts from sales for September MUSIC WORLD Schedule of Cash Receipts from Sales September Sales $260.000 Cash receipts from Total cash receipts