I only want second and third section, THANK YOU

Project Title: KIMMCO Industrial Products Profit Planning Project information KIMMCO produces control valves used in the production of oil field equipment, as these valves are sold for many oil and gas companies across the GCC. The company's internal controller will prepare the budget for the first quarter of 2022. The projected unit sales for the next four months were As follows: Month Sold units January 20,000 February 25,000 March 30,000 April 30,000 As for the data of the production policy and manufacturing specifications that the company follows, it was as follows: a. Inventory of finished goods beginning of January 14,000 units. The ending inventory required for each month is 70% of the following month's sales. b. The following table shows the direct materials used: Direct materials Pieces used for every unit Part 714 5 Single unit cost $4 Part 502 3 $3 The company follows the policy of ending inventory for direct materials at 50% of the estimated unit sales for the same month. At the beginning of January, the stock of direct materials for the part (714) was 40,000 pieces, while 25,000 piece for part no. (502). c. One unit produced needs 2 hours of direct labor. The average hourly wage was $15. d. As for the indirect (additional) industrial costs, they were estimated using the flexible budget formula (they are measured activity based on direct working hours): Statement Fixed monthly cost Changed cost per direct working hour Utilities SO $1 Power (electricity) 0 .20 Maintenance 28,000 1.10 Supervision 14,000 0 Burning (consumption) 100,000 0 Taxes 7,000 0 Others 56,000 1.60 e. Monthly administrative and selling expenses were estimated by the same formula (flexible budget), where these are measured expenses are based on the number of units sold as follows: Statement Fixed monthly cost Changed cost per direct working hour Salaries $30,000 0 Commissions 0 $0.75 Burns (Consumption) 5,000 0 Shipping 0 2.60 Others 10,000 40 f. The unit selling price of control valves is $90. g. In February, the company wants to buy land in order to expand its factory in the future and it was a cost the land is $90,000. h. KIMMCO has excellent experience in collecting receivables (receivables) from customers and is expected to become i. Better than ever. The company collects 40% of sales the month sale and 45% in the following month the month of sale, and the remaining percentage is collected in the second month following the month of sale. As for the accounts receivable balance? (Debtors) at the end of the previous year (2021) $1,410,000, of which $1,090,000 will be collected in January 2022, and $320,000 of it will be collected in February 2022. j. According to KYMCO's previous experiences, the company pays 60% of its purchases in the month of sale and 40% in the month following the month of sale. As for the balance of accounts payable (creditors) at the end of the previous year (2021), it was $80,000, and the company will pay it in January of 2020. k. The cash balance at the beginning of January was $850,000. As for the company's cash policy, the company wants to maintain a minimum cash balance of $600,000 at the end of each month. In the event that the balance falls below the minimum required at the end of any month, the company will borrow an amount sufficient to fill the cash shortfall. The loan is repaid in December each year at an interest rate of 12%. Based on the foregoing, each working group must submit a detailed report to address the following points: Section one: Based on what s covered in relation ne fifth topic (Cher Eight: Profit Planning and udgets), which disc the basics of rit planning and follow-up thr gh the preparation the master budget ou and the group members are equired by deepeni your personal (priv: study of this topic and by re ring to additional research sources to iscuss it covers the following ints: 1. Brief explain and comre static budgeting and lexible budgeting. (2.5 mar 2. Bri y explain the maing of continuous budget. 4.5 marks) 3. Ex in briefly the r aning of the zero budget. marks) 4. Bi.fly explain the meaning of activity-based buageting. (2.5 marks) Section Two: 1. Preparing the expected monthly and total cash receipts schedule for the first quarter (January, February and March) for 2022 ( 18 marks) 2. Preparing the expected monthly and total cash payments schedule for the first quarter (January, February and March) for 2022 ( 18 marks) 3. Preparing the expected cash budget in a monthly and total manner for the first quarter (January, February and March) for the year 2022.(36 degrees) Third Section: 1. To facilitate the company's profitability plan, KIMMCO has requested that the number of units to be sold in the first quarter to achieve a target profit of $595,000. (9 degrees) 2. The production manager believes that if the company incurs additional industrial fixed costs of $250,000 for each quarter of the year, the company will be able to reduce direct labor costs by $15 and reduce costs industrial variables to $4.25 per unit. In the event that the company agrees to the proposal submitted by the Director production, calculate the number of units the company must sell to achieve a target quarter of $1,200,000 (9 degrees) (Total project score: 100) Project Title: KIMMCO Industrial Products Profit Planning Project information KIMMCO produces control valves used in the production of oil field equipment, as these valves are sold for many oil and gas companies across the GCC. The company's internal controller will prepare the budget for the first quarter of 2022. The projected unit sales for the next four months were As follows: Month Sold units January 20,000 February 25,000 March 30,000 April 30,000 As for the data of the production policy and manufacturing specifications that the company follows, it was as follows: a. Inventory of finished goods beginning of January 14,000 units. The ending inventory required for each month is 70% of the following month's sales. b. The following table shows the direct materials used: Direct materials Pieces used for every unit Part 714 5 Single unit cost $4 Part 502 3 $3 The company follows the policy of ending inventory for direct materials at 50% of the estimated unit sales for the same month. At the beginning of January, the stock of direct materials for the part (714) was 40,000 pieces, while 25,000 piece for part no. (502). c. One unit produced needs 2 hours of direct labor. The average hourly wage was $15. d. As for the indirect (additional) industrial costs, they were estimated using the flexible budget formula (they are measured activity based on direct working hours): Statement Fixed monthly cost Changed cost per direct working hour Utilities SO $1 Power (electricity) 0 .20 Maintenance 28,000 1.10 Supervision 14,000 0 Burning (consumption) 100,000 0 Taxes 7,000 0 Others 56,000 1.60 e. Monthly administrative and selling expenses were estimated by the same formula (flexible budget), where these are measured expenses are based on the number of units sold as follows: Statement Fixed monthly cost Changed cost per direct working hour Salaries $30,000 0 Commissions 0 $0.75 Burns (Consumption) 5,000 0 Shipping 0 2.60 Others 10,000 40 f. The unit selling price of control valves is $90. g. In February, the company wants to buy land in order to expand its factory in the future and it was a cost the land is $90,000. h. KIMMCO has excellent experience in collecting receivables (receivables) from customers and is expected to become i. Better than ever. The company collects 40% of sales the month sale and 45% in the following month the month of sale, and the remaining percentage is collected in the second month following the month of sale. As for the accounts receivable balance? (Debtors) at the end of the previous year (2021) $1,410,000, of which $1,090,000 will be collected in January 2022, and $320,000 of it will be collected in February 2022. j. According to KYMCO's previous experiences, the company pays 60% of its purchases in the month of sale and 40% in the month following the month of sale. As for the balance of accounts payable (creditors) at the end of the previous year (2021), it was $80,000, and the company will pay it in January of 2020. k. The cash balance at the beginning of January was $850,000. As for the company's cash policy, the company wants to maintain a minimum cash balance of $600,000 at the end of each month. In the event that the balance falls below the minimum required at the end of any month, the company will borrow an amount sufficient to fill the cash shortfall. The loan is repaid in December each year at an interest rate of 12%. Based on the foregoing, each working group must submit a detailed report to address the following points: Section one: Based on what s covered in relation ne fifth topic (Cher Eight: Profit Planning and udgets), which disc the basics of rit planning and follow-up thr gh the preparation the master budget ou and the group members are equired by deepeni your personal (priv: study of this topic and by re ring to additional research sources to iscuss it covers the following ints: 1. Brief explain and comre static budgeting and lexible budgeting. (2.5 mar 2. Bri y explain the maing of continuous budget. 4.5 marks) 3. Ex in briefly the r aning of the zero budget. marks) 4. Bi.fly explain the meaning of activity-based buageting. (2.5 marks) Section Two: 1. Preparing the expected monthly and total cash receipts schedule for the first quarter (January, February and March) for 2022 ( 18 marks) 2. Preparing the expected monthly and total cash payments schedule for the first quarter (January, February and March) for 2022 ( 18 marks) 3. Preparing the expected cash budget in a monthly and total manner for the first quarter (January, February and March) for the year 2022.(36 degrees) Third Section: 1. To facilitate the company's profitability plan, KIMMCO has requested that the number of units to be sold in the first quarter to achieve a target profit of $595,000. (9 degrees) 2. The production manager believes that if the company incurs additional industrial fixed costs of $250,000 for each quarter of the year, the company will be able to reduce direct labor costs by $15 and reduce costs industrial variables to $4.25 per unit. In the event that the company agrees to the proposal submitted by the Director production, calculate the number of units the company must sell to achieve a target quarter of $1,200,000 (9 degrees) (Total project score: 100)