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l need solution from this question The data below pertains to the third quarter of Lulu Company which manufactures toys. Below is the estimated sales

l need solution from this question

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The data below pertains to the third quarter of Lulu Company which manufactures toys. Below is the estimated sales (in units): July 60,000 August 70,000 September 80,000 October 90,000 November 60,000 December 40,000 a. The selling price of each toy is $11.00 per unit. b. All sales are on account. Based on past experience, sales are collected in the following pattern: Month of sale 40% Month following sale 60% C. Sales for June totaled $170,000. d. The company maintains finished goods inventories equal to 20% of the following month's sales. e. Each toy requires 4 pounds of raw materials. f. The company requires that the ending inventory of raw materials be equal to 15% of the following month's production needs. g. The raw material costs $5.00 per pound. h. 50% of a month's purchases of raw materials is paid for in the month of purchase; the remainder is paid for in the following month. The accounts payable on June 30 will be $127,000. Part 1 Required: Prepare: a. Prepare a sales budget, by month and in total, for the third quarter. (3 marks) b. Prepare a schedule of expected cash collections, by month and in total, for the third quarter. (15 marks) c. Prepare a production budget by month and in total for the quarter. (10 marks) d. Prepare a direct materials budget, by month and in total, for the quarter. (12 marks) e. Prepare a schedule of expected cash disbursements, by month and in total, for the quarter. (15 marks)

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