I need assistance with steps 5-9

Silverman Manufacturing is preparing its master budget for the first quarter of the upcoming year. The following data pertain to Silverman Manufacturing's operations: Current Assets as of December 31 (prior year): Cash $4,500 Accounts receivable, net $49,000 Inventory $15,320 Property, plant and equipment, net $121,500 Accounts payable $42,400 Capital stock $125,000 Retained earnings $22,920 (a) Actual sales in December were $70,000. Selling price per unit is projected to remain stable at $10 per unit throughout the budget period. Sales for the first five months of the upcoming year are budgeted to be as follows: January .. $80,000 February $92,000 March.. $99,000 April . $97,000 May .. $85,000 (b) Sales are 30% cash and 70% credit. All credit sales are collected in the month following the sale. Silverman Manufacturing has a policy that states that each month's ending inventory of finished goods should be 25% of the following month's sales (in units). (d) Of each month's direct material purchases, 20% are paid in the month of purchase, while the remiander is paid for in the month following purchase. Two pounds of direct material is needed per unit at $2 per pound. Ending inventory of direct materials should be 10% of next month's production needs. (e) Monthly manufacturing conversion costs are $5,000 for factory rent, $3,000 for other fixed manufacturing expenses, and $1.20 per unit for variable manufacturing overhead. No depreciation is included in these figures. All expenses are paid in the month in which they are incurred. (f) Computer equipment for the administrative offices will be purchased in the upcoming quarter. In January, Silverman Manufacturing will purchase equipment for $5,000 (cash) while February's cash expenditure will be $12,000 and March's cash expenditure will be $16,000. (g) Operating expenses are budgeted to be $1 per unit sold plus fixed operating expenses of $1,000 per month. All operating expenses are paid in the month in which they ae incurred. (h) Depreciation on the building and equipment for the general and administrative offices is budgeted to be $4,800 for the entire quarter, which includes depreciation on new acquisitions. (i) Silverman Manufacturing has a policy that the ending cash balance in each month must be at least $4,000. It has a line of credit with a local bank. The company can borrow in increments of $1,000 at the beginning of each month, up to a total outstanding loan balance of $100,000. The interest rate on these loans is 1% per month simple interest (not compounded). Silverman Manufacturing would pay down on the line of credit balance if it has excess funds at the end of the quarter. The company would also pay the accumulated interest at the end of the quarter on the funds borrowed during the quarter. (j) The company's income tax rate is projected to be 30% of operating income less interest expense. The company pays $10,000 cash at the end of February in estimated taxes. Requirements (1) Prepare a schedule of cash collections for January, February and March, and for the quarter in total. Use the following format: Cash Collections Budget January February March Quarter Cash Sales Credit Sales Total cash collections (2) Prepare a production budget, using the following format: Production Budget January February March Quarter Unit sales* Plus: Desired ending inventory Total needed Less: Beginning inventory Units to produce *Hint: Units sales = Sales in dollars / Selling price per unit (3) Prepare a direct materials budget, using the following format: Direct Materials Budget January February March Quarter Units to be produced X Pounds of DM needed per unit Quantity (pounds) needed for production Plus: Desired ending inventory of DM Total quantity (pounds) needed Less: Beginning inventory of DM Quantity (pounds) to purchase X Cost per pound Total cost of DM purchases (4) Prepare a cash payments budget for the direct material purchases from Requirement 3, using the following format: Cash Payments for Direct Material Purchases Budget January February March Quarter December purchases (from Accounts Payable) January purchases February purchases March purchases Total cash payments for direct material purchases (5) Prepare a cash payments budget for conversion costs, using the following format: Cash Payments for Conversion Costs Budget January February March Quarter Variable conversion costs Rent (fixed) Other fixed MOH Total payments for conversion costs (6) Prepare a cash payments budget for operating expenses, using the following format: Cash Payments for Operating Expenses Budget January February March Quarter Variable operating expenses Fixed operating expenses Total payments for operating expenses (7) Prepare a combined cash budget, using the following format: Combined Cash Budget January February March Quarter Cash balance, beginning Add cash collections Total cash available Less cash payments: Direct material purchases Conversion costs Operating expenses Equipment purchases Tax payment Total cash payments Ending cash balance before financing Financing: Borrowings Repayments Interest payments Ending cash balance (8) Calculate the budgeted manufacturing cost per unit, using the following format (assume that fixed manufacturing overhead is budgeted to be $0.80 per unit for the year): Budgeted Manufacturing Cost per Unit Direct Materials cost per unit Conversion cost per unit Fixed manufacturing overhead per unit Budgeted cost of manufacturing each unit (9) Prepare a budgeted income statement for the quarter ending March 31, using the following format: Budgeted Income Statement For the Quarter Ending March 31 Sales Cost of goods sold* Gross profit Operating expenses Depreciation Operating income Less interest expense Less provision for income taxes Net income *Cost of goods sold = Budgeted cost of manufacturing each unit x Number of units sold