Exercise 3: Directions: Compute the projected collection , sales budget , production budget and cash budget and answer the questions below the given date . 1. Mel & James Inc . is doing their annual budgeting . They have the following information Given this data : Average sale past 5 years 1,000,000 Sales target this year 10% increase from 5 yr. average sales Sales price /unit 10.0 Safe Stock % 20 % of total inventory Raw Material / unit 3 pcs Cost per raw material 1.50 a. How much is the budgeted sales for this year ? b. How many units does Mel and James need to sell ? c. How many units does Mel and James need to produce ? d. How many raw material units does Mel and James need ? e. How much is the projected cost of raw materials ? 2. Rhylinchai Corp has the following information Projecteed Monthly Sales 300,000 Cash Collection 9% in 1st Month 40 9% Cash Collection % in 2nd Month 35 % Cash Collection % in 3rd Month 25 % a. How much cash will Rhylinchai Corp collect in the 1st Month ? b. How much cash will Rhylinchai Corp collect in the 3rd Month