Furniture, Inc. makes and sells a single product called a Bik. The company wants to prepare the direct material budget for the quarter ending June 30 Budgeted production of Biks for the next six months is as follows: February 7.000 Units March 7.750 Units April 5.950 Units May 6.300 Units June 7.250 Units July 8.000 Units It takes four yards of Material A to make one Bik. The company wants to mamtain monthly ending inventory of Material A equal to 20% of the following month's production needs. On March 31. 1.840 yards of Material A were on hand. The cost of Material A is $6 per yard Required: 1. Prepare the Direct Materials Budget for April, May, June, and quarter 2. Based on the direct material budget that you prepared in requirement 1 above and assume that the direct materials purchase in February was $75,000 and in March was $80,000 Prepare the cash disbursements budget for April if the company policy for paying purchases is as follows: 15% in the month of purchase - 65% one month after purchase. -20% two months after purchaser TFA (PC or ALT-EN-F10 (Mac)