Identify which of the following sets of items are necessary components of the master budget. Operating budgets, historical income statement, and budgeted balance sheet. Prior sales reports, capital expenditures budget, and financial budgets. Sales budget, operating budgets, and historical financial budgets. Operating budgets, financial budgets, and capital expenditures budget. Grace manufactures and sells miniature digital cameras for $250 each. 1,000 units were sold in May, and management forecasts 4% growth in unit sales each month. Determine the number of units of camera Sales and the dollar amount of camera sales for the month of June. Zilly Co. predicts sales of $400,000 for June. Zilly pays a sales manager a monthly salary of $6,000 and a commission of 8% of sales dollars. Prepare a selling expense budget for the month of June. Liza's predicts sales of $40,000 for May and $52,000 for June. Assume 60% of Liza's sales are for cash. The remaining 40% are credit sales; these customers pay in the month following the sale. Compute the budgeted cash receipts for June. Zortek Corp, budgets production of 400 units in January and 200 units in February. Each finished unit requires five pounds of raw material Z, which costs $2 per pound. Each month's ending inventory of raw materials should be 40% of the following month's budgeted produ7ction. The January 1 raw materials inventory has 130 pounds of Z. Prepare a direct materials budget for January