Inner Wolfmakes fake custom fur spirit hoods that they sell on Etsy.They are working on the budgets for April, May, & June (Q2) and have asked for your help.The unit sales forecast for the next four months is:

April May June July

70 80 75 65

The Hoods sell for $200 each.The raw materials that go into the hood cost $70 per hood.Payments are received through Etsy and deposited immediately into Inner Wolf's account less the 8% fee Etsy charges.

March sales are budgeted at $16,600

Inner Wolf likes to maintain an ending inventory of raw materials of 10% of next month's projected sales forecast.

Complete the following budgets

1.) Sales budget (April, May and June)

2.) Cash receipts budget (April, May, June)

3.) Determine the following balances:

a. Sales Revenue on the Q2 Pro-forma income statement

b. COGS on the Q2 Pro-formaincome statement (they only consider the raw materials as cost of the product)

c. Ending raw material inventory amount on the June 30 balance sheet

So for question 1.) For April sales budget would it be 70x200=14000 then minus the.08% etsy charge = 1,120 then minus the $70 dollar cost per hood which equals Aprils sales budget as $7980. May would be 80x200=16000 16,000x.08= minus 1280 then minus 70x80 cost per hood which equals 5600. So total budget for May would be 16,000-1280-5600= 9,120. June would be 75x200=15,000 minus the .08% esty fee (1200) minus the cost of the 75 hoodies (5250). June's budget is 15000-1200-5250= 8550.

For question 2.) Cash receipts budget: for April would it just be 14,000 May 16,000 and June would be 15,000

For question 3.) sales revenue on the Q2 pro-forma income statement would be 7,980+9,120+8,550=25,650

I'm not sure how to figure out the COGS or the ending raw material inventory.