(i) Requirements 5 of 5 (5 complete) Prepare the following budgets for the first three months of the year, as well as a summary budget for the quarter: 2. 3. 5. Prepare the sales budget, including a separat section that details the type of sales made (cash versus credit.) Prepare the production budget. Prepare the direct materials purchases budget. Assume the company needs 130,000 board feet of wood for production in April. Prepare the cash collections budget for January, February, and March, as well as a summary for the first quarter. Prepare the cash payments budget for direct materials purchases for the months of January, February, and March, as well as a summary for the first quarter. Print Done