i did the raw materials budget but im not sure if its correct. What would the raw materials budget be ?

Raw Materials Budget Catlett Manufacturing, Inc. 3rd Quarter 2021 The management of Catlet Manufacturing, Inc-prepared the following estimated bulance sheet for June 2022 . To prepare a masier bodget for July. August, and Sepermber of 2022 , managemsent gathers the following information. a. Sales were 18,000 units in Janc. Forecanded sales in units are as follows: July, 20,000; Augas, 15,000; September, 20,000: and October 24,000. The product's selling price is $17 per anit and its lotal product cost is $14.35pcr unit. b. Company policy calls for a given month's ending finished goods irventory to equal 7o of the neut month/s expected unit sales. The Juen 30 finished goods inventory is 16.500 units, which does not contply with the policy: c. Company policy calts for a given month's ending caw maserials imventory to equal 20% of the next month's materials requirements. The June 30 raw materials imentory is 4,350 unies (which also fails to meet the policy). The budgeced Sepicmber 30 raw materials is 1,780 units. Raw materials cest $8 per unit. Each finished unit requires 0.50 unins of raw materials. d. Each finished unit requires 0.50 hours of direct labor an a rate of $16 per hour. e. Overbead is allocated based on direst laboe hours. The predeterwined variable overhead rate is $2.70 per direct labor hour. Depreciation of $20.000 per month is treated as fixed factory everhead. f. Monthly general and administrative expences include $10,000 administrative salanies and 0.9%, monthly interest on the long-term note payable. 2. Sales reprosentatives' commissions are to\% of sales and are paid in the month of the saks. The sales manaper's monthly salary is $3.500. h. The company expects 30% of sales to be foe cash and the remaining 70% on credit. Receivables are collected in fult in the month following the sale (noone are collected in the month of the sale). i. All raw materials purchases are on credit, and so poyables arise from any ofher transactions. One months raw materials purchases are fully paid in the next mosth. j. Dividends of $25,000 are to be declared and paid in Magust. 1. Income taxes payable at June 30 will be paid in July. Income tax cxpense will be assessed at 35% in the quarter and paid in Oetober. k. Fquipment purchases of $100,000 are budgeted for the last day of September. m. The minimum ending eash balance for all months is 530,000 . If necessary, the company botrows cnough cash esing a short-4crm note so reach the minimum. Shor-term notes require an interest payment of 1% at each month-end (before any repayment). If the ending cash balanke exkerds the minimam, the cucess will be applied to repaying the shor-tenn notes payable balarce. Required Prepare the following budgets and other financial information as required. Alt budgets and other financial ieformation shorald be prepared for the third calendar quarner, exeept as otherwise noed below. Round cakulations to the nearest whole dollar. 1. Sales budget 7. Gencral and administrative expense budget. 2. Production budget. 8. Cash bailgct. 3. Raw materials budget. 9. Budgeted income statement for the entire quarter (not for cach 4. Direct labor bodget. manth separately). 5. Factory owerhead budget. 6. Selling expense budget. Raw Materials Budget Catlett Manufacturing, Inc. 3rd Quarter 2021 The management of Catlet Manufacturing, Inc-prepared the following estimated bulance sheet for June 2022 . To prepare a masier bodget for July. August, and Sepermber of 2022 , managemsent gathers the following information. a. Sales were 18,000 units in Janc. Forecanded sales in units are as follows: July, 20,000; Augas, 15,000; September, 20,000: and October 24,000. The product's selling price is $17 per anit and its lotal product cost is $14.35pcr unit. b. Company policy calls for a given month's ending finished goods irventory to equal 7o of the neut month/s expected unit sales. The Juen 30 finished goods inventory is 16.500 units, which does not contply with the policy: c. Company policy calts for a given month's ending caw maserials imventory to equal 20% of the next month's materials requirements. The June 30 raw materials imentory is 4,350 unies (which also fails to meet the policy). The budgeced Sepicmber 30 raw materials is 1,780 units. Raw materials cest $8 per unit. Each finished unit requires 0.50 unins of raw materials. d. Each finished unit requires 0.50 hours of direct labor an a rate of $16 per hour. e. Overbead is allocated based on direst laboe hours. The predeterwined variable overhead rate is $2.70 per direct labor hour. Depreciation of $20.000 per month is treated as fixed factory everhead. f. Monthly general and administrative expences include $10,000 administrative salanies and 0.9%, monthly interest on the long-term note payable. 2. Sales reprosentatives' commissions are to\% of sales and are paid in the month of the saks. The sales manaper's monthly salary is $3.500. h. The company expects 30% of sales to be foe cash and the remaining 70% on credit. Receivables are collected in fult in the month following the sale (noone are collected in the month of the sale). i. All raw materials purchases are on credit, and so poyables arise from any ofher transactions. One months raw materials purchases are fully paid in the next mosth. j. Dividends of $25,000 are to be declared and paid in Magust. 1. Income taxes payable at June 30 will be paid in July. Income tax cxpense will be assessed at 35% in the quarter and paid in Oetober. k. Fquipment purchases of $100,000 are budgeted for the last day of September. m. The minimum ending eash balance for all months is 530,000 . If necessary, the company botrows cnough cash esing a short-4crm note so reach the minimum. Shor-term notes require an interest payment of 1% at each month-end (before any repayment). If the ending cash balanke exkerds the minimam, the cucess will be applied to repaying the shor-tenn notes payable balarce. Required Prepare the following budgets and other financial information as required. Alt budgets and other financial ieformation shorald be prepared for the third calendar quarner, exeept as otherwise noed below. Round cakulations to the nearest whole dollar. 1. Sales budget 7. Gencral and administrative expense budget. 2. Production budget. 8. Cash bailgct. 3. Raw materials budget. 9. Budgeted income statement for the entire quarter (not for cach 4. Direct labor bodget. manth separately). 5. Factory owerhead budget. 6. Selling expense budget