Ines Music. Ltd., a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $894,000 in October, $954,000 in November, $1,050,000 in December, and $924,000 in January. The company's sales are 22% cash and 78% credit, and collection history indicates that credit sales are collected as follows: 24% in the month of the sale 66% in the month after the sale 8% two months after the sale 2% are never collected Requirements 1. Prepare a sales budget for all four months, showing the breakdown between cash and credit sales. 2. Prepare a cash collection budget for December and January, Round all answers up to the nearest dollar 1:R. a me svem ition sale eakd Requirement 1. Prepare a sales budget for all four months, showing the breakdown between cash and credit sales. (Round all answers up to the nearest dollar) Music, Ltd. Sales Budget October November December January Cash sales Credit sales ns Cho w SB SE Total sales Requirement 2. Prepare a cash collection budget for December and January (Round all answers up to the nearest dollar.) Muslo, Ltd Budgeted Cash Collections from Customers December January Cash sales Collection of credit sales: 24% of current month credit sales 66% of prior month credit sales 8% of credit sales two months ago Total collection of credit sales sit Grayson Industries has collected the following data for one of its products. Direct materials standard (5 kilograms per unit @ $0.50/kg.) Direct materials flexible budget variance unfavourable Actual direct materials purchased and used Actual finished goods produced $2.50 per finished good $10,000 100,000 kilograms 24,000 units What is the actual cost of the direct materials used per kilogram at Grayson Industries? Round to the nearest cent. OA. $0.70 B. $0.50 C. $3.00 D. $2.92