January of [st quarter of 201 8 $520,000 of sales February of 1st quarter of 2018 $460,000 of sales March of 1 st quarter of 201 8 $300,000 of sales Cash sales make up 50% of the sales. 40% of credit sales are collected in the sales month itself while the balance is collected in the following month. Required: (a) Prepare the production budgets (in units) for the rst and second quarter. (4 marks) (b) Prepare the direct materials budget (in square meters and dollars) for the first quarter. (6 marks) (c) Prepare the cash budget for the rst quarter. (6 marks) (Total: 16 marks)