I hope someone can be great to help. Thank you very much. Requirements are stated in the introductory sentence of the problem.

You are required to complete a production budget, cost of goods sold budget, budgeted income statement and cash budget for your manufacturing company. The forecasted sales budget are as follows: First Quarter Third Quarter Total Second Quarter Fourth Quarter 15,000 units 16,000 units 17,000 units 18,000 units 66,000 units Budgeted sales in units Sales Price/Unit Total Budgeted Sales $100 $100 $100 $100 $100 $1,500.000 $1,600,000 $1,700,000 $1.800.000 $6,600,000 All sales are made on credit. Experience shows that 30% of cash collections are received in the quarter of the sale and the remaining 70% are collected in the quarter after the sale. Outstanding accounts receivable is $68,000 which will be paid in the first quarter. Company policy is to maintain 30% of next quarter's sales in finished goods inventory. Ending finished goods inventory for the fourth quarter is expected to be 1,850 units. First quarter beginning inventory is estimated to be 30% of the first quarter sales units. Direct material purchases are planned as follows: First Quarter $480,000; Second Quarter $810,000; Third Quarter $645,000; and Fourth Quarter $550,000. All purchases are made on credit. Cash payments are made 55% in the quarter of purchase and 45% paid in the quarter after purchase. Outstanding accounts payable is $75,000 and will be paid in the first quarter. For cost of goods sold, the production costs include direct materials are $30 per unit, direct labor $16 per unit and overhead is 110% of direct labor. Selling expenses include sales commissions of 8% of sales revenue and sales salaries of $45,000 per quarter. Administrative expenses include office building depreciation of $5,000 per quarter and ffice salaries of $75,000 per quarter. The beginning cash balance for your company is $35,000. The company wishes to maintain an ending cash balance each quarter of at least $20,000. If you do not have an ending cash balance of at least $20,000 you can borrow money. The bank provides a line of credit for us up to $40,000 a year at a quarterly interest rate of 4%. Interest is paid when the loan is repaid. Interest is calculated at the end of each quarter based on the loan balance before repayment