How do I prepare a selling and administrative budget similar to Illustration 22.13 of the textbook (illustration attached)

Illustration 22.13 below

D Serious Business, Inc. The company is preparing its budget for the coming year, 2020. The first step is to plan for the FIRST QUARTER of that 2 coming year. The following information has been gathered from their managers. 4 Sales Information 5 Period Units November 113,000 Actual December 101,000 Actual 8. January 111,000 Planned February 112,000 Planned Grading guidelines are on the instructions 10 March 114,000 Planned tab. April 124,000 Planned 11 136,000 Planned 12 May 13 Unit selling price 12.00 14 15 Finished Goods Inventory Planning The company likes to keep 10% of the next month's unit sales in finished goods ending inventory. 16 17 18 Accounts Receivable & Collections 19 Sales on Account 100% 20 Collections Activity 21 Month of Sale 85% 22 Month after Sale 15% Balance at 12/31/19 23 185,000.00 24 Materials Inventory Costs & Planning Amount Used per Unit Direct Materials Cost Metal 2 Ib 1.00 Ib The company likes to keep 5% of the material needed for the next month's production in raw materials ending inventory. Accounts Payable & Disbursements Purchases on Account 100% Payment Activity Month of Purchase 50% Month after Purchase 50% Balance at 12/31/19 120,000 Direct Labor & Costs 9 minutes Time per Unit Production Pay Rate/Hour 7.00 %24 Manufacturing Overhead Costs Variable costs per direct labor hour Indirect materials 0.30 Indirect labor 0.45 Utilities 0.45 Maintenance 0.25 Fixed costs per month 42,000 Salaries Depreciation 16,800 2,675 Property taxes Insurance 1,200 Janitorial 1,300 Selling and Administrative Costs Variable costs per unit sold 1.45 Fixed costs per month Advertising 15,000 14,000 Insurance Salaries 72,000 Depreciation 25,000 Other fixed costs 3,000 Income Taxes Accrued on Monthly Net Income Amounts Accrued Q4 2019, paid January 2020 35% rounded to nearest dollar 200,000 Cash and Financing Matters Cash Balance, 12/31/2019 90,000 2020 Minimum Balance Required 715,000 Monthly Dividends 2.25 per share Outstanding Shares 5,000 Line of Credit Limit None Borrowing Increment Required 1,000 Interest Rate 9% Draws First of Month Repayments Last of Month Interest accumulates to the loan balance and is paid in full with each repayment. Additional Item 2$ Fixed Asset Purchase 445,000 Month February Serious Business Inc. Sales Budget For the First Quarter January February 111,000 March 1st Quarter Expected Sales Units Unit Selling price Total Sales 112,000 114,000 337,000 $12 $12 $12 $12 $1,332,000 $1,344,000 $1,368,000 $4,044,000