Group Project - Preparation of a Master Budget Al Marwan pharmaceutical Company is a manufacturet and seller of pharmaceutical products. Information on actual and projected sales in units is given below for the Use this information to answer all parts of question one. Required: 1. Prepare a Sales budget in units and dirham for the months of July to September 2021 and for the quarter in total. The selling price per unit is AED 50. [5 Marks] 2. Assume that the company collects 60% of its sales in the month of the sale, 40% in the month following the sale. Prepare a Cash Receipts sehedule for 3 months ending September 2021 and total for the quarter of 2021 . Accounts Receivable balance as of June 30, 2021 was AED 240,000. [15 Marks] 3. Refer to the projected sales that you have calculated. Prepare a Production Budget for 3 months ending September 2021 and total for the quarter of 2021 . The company's inventory at the end of each month must equal 20 \%. of next month's sales. On June 30, 2021, inventory balance was 6,000 units. [10 Marks] 4. Prepare a Direct Materials Purchase Budget in quantity and in dollar amounts for 3 months ending September 2021 and total for the quarter of 2021 based on the production budget above. One unit of product requires 8 ounces of materials and the company's policy is to maintain an ending inventory of materials equal to 30% of next month's production needs. Each ounce of direct materials cost AED 3.50. June 31 , 2021 inventory balance was 48,000 ounces. [16 marks]