Homework: LP5 Problem Set Save Score: 0 of 10 pts 1 of 5 (1 complete) HW Score: 20%, 10 of 50 pts P10-59 (similar to) Question Help Adams Company, a merchandising firm that sells one product, estimates will sell 12.000 units of its product at $83 per unit in December. In November, the company prepared other information to prepare a budget for December, as shown here Click the icon to view the budget data) Requirements (a) How many units of merchandise wil Adams budget to purchase in December? What is the dollar amount of Adams budgeted merchandise purchases for December? b) Prepare a budgeted Income statement for the month ended December for Adams Company (c) Prepare a statement of estimated cash flows for the month ended December for Adams Company Requirement (a) How many units of merchandise wil Adarna budget to purchase in December? What is the dollar amount of Adamo budpoled merchandise purchases for December? Merchandisinventory Dollar value Inventory needs Choose from a list or any number in the input finds and then click Chack Answer Data Table - X Merchandise inventory, December 1 Desired merchandise inventory for December 31 Cost per unit of mechandise purchases Selling and administrative expenses Cash balance, December 1 November sales 2,100 units 3,000 units $48 $170,000 $32,000 $620,000 The company estimates that 60% of each month's sales are collected in the month of sale and that the remaining 40% is collected in the month after sale. The $170,000 of selling and administrative expenses includes $20,000 of depreciation. The company pays for twenty percent of merchandise purchases during the month of purchase and pays the remainder during the month following purchase. Estimated merchandise purchases for November are $372,000. Print Done