Given the following information. Can you please create a:

Schedule of Cash Receipts

and

Schedule of Cash Payments for Direct Materials

Thanks :)

The management of Zigby Manufacturing prepared the following balance sheet for March 31. P M P m ZIGBY MANUFACTURIN Balarice Sheet March 31 Assets Cash.. Accounts recelvable. Raw materials Inventory. Finished goods inventory Equipment.... Less: Accumulated depreciation .. $ 40,000 344,400 98,500 325,540 Liabillties and Equity Liabilities Accounts payable... $201.000 Loan payable 12.000 Long-term note payable .. 500,000 $ 713,000 Equity Common stock. 335,000 Retained earnings .. 210,440 545,440 Total liabilstles and equity.... $1,258,440 $600,000 150,000 450,000 Total assols. $1,258,440 To prepare a master budget for April, May, and June, management gathers the following information, a. Sales for March logal 20,500 units. Budgcted sales in units follow: April, 20,500; May, 19,500; June, 20,000; and July, 20,500. The product's selling price is $24.00 per unit and its total product cost is $19.85 per unit. b. Raw materials inventory consists solely of direct materials that cost $20 per pound. Company policy calls for a given monthi's ending materials inventory to equal 50% of the next month's direct materials requirements. The March 31 raw materials inventory is 4,925 pounds. The budgeted June 30 ending raw materials inventory is 4,000 pounds. Each finished unit requires 0.50 pound of direct materials. c. Company policy calls for a given month's ending finished goods inventory to equal 80% of the next month's budgeted unit sales. The March 31 finished goods inventory is 16,400 units. d. Bach finished unit requires 0.50 hour of direct labor at a rate of $15 per hour. e. The predetermined variable overhead rate is $2.70 per direct labor hour. Depreciation of $20,000 per month is the only fixed factory overhead item. f. Salcs commissions of 8% of sales are paid in the month of the sales. The sales manager's monthly sal- ary is $3,000. g. Monthly general and administrative expenses include $12,000 for administrative salaries and 0.9% monthly interest on the long-term note payable. h. The company budgets 30% of sales to be for cash and the remaining 70% on credit. Credit sales are collected in full in the month following the sale (no credit sales are collected in the month of sale). continued from previous page] i. All raw materials purchases are on credit, and accounts payable are solely tied to raw materials purchases. Raw materials purchases are fully paid in the next month (none are paid in the month of purchase). 1. The minimum ending cash balance for all months is $40,000. If necessary, the company borrows enough cash using a loan to reach the minimum. Loans require an interest payment of 1% at each month-end (before any repayment). If the month-end preliminary cash balance exceeds the minimum, the excess will be used to repay any loans. k. Dividends of $10,000 are budgeted to be declared and paid in May. I. No cash payments for income taxes are budgeted in the second calendar quarter. Income tax will be assessed at 35% in the quarter and budgeted to be paid in the third calendar quarter. m. Equipment purchases of $100,000 are budgeted for the last day of June