LOOKING FOR HELP WITH SECTION 4 THE BUDGETED BALANCE.... I AM NOT SURE IF THE NUMBERS I HAVE IN THERE ARE CORRECT OR NOT

Given Data CRAVAT SALES COMPANY CRAVAT SALES COMPANY 12,000 Minimum ending cash balance Selling price (per unit) Recent and forecast sales (in units) January (actual) February (actual) ri June 1a. Sales budget: Budgeted sales in units Selling price per unit 20,000 139,000 ar $267,300 $ 332,100 526,500$ 1,125,900 ril 33,000 Correct 1b. Schedule of expected cash collections: February sales 65,000 40,000 36,000 June $158,760 26,730 $ 267,300 199,260 $ 298,890 157,950 $ 157,950 $235,710 $ 282,690 $ 383,940$ 902,340 136,080 22,680 160,380$ 99,630 ar sales September May sales June sales Total cash collections Desired ending inventories (percentage of next month's sales Correct Correct Correct Cost of ties (per unit) 1c. Merchandise purchases budget: Budgeted sales in units Add budgeted ending inventory Total needs Less beginning inventory Required unit purchases Unit cost Required dollar purchases 65,000 30,000 95,000 48,750 46,250 30,750 63,750 24,750 48,750 89,750 30,750 59,000 139,000 109,500 248,500 104,250 Purchases paid as follows: In month of purchase In following month Collection on sales: Sales collected current month Sales collected following month Sales collected 2nd month following $ 189,150.00 $ 286,150.00 $ 224,312.50 $ 699,612.50 Correct Correct Correct 1d. Budgeted cash disbursements for inventory purchases: March purchases April purchases May purchases June purchases Total cash payments $ 76,993.7500 Variable monthly expenses: Sales commissions (per tie) 189,150 143,075 $ 143,075 $ 286,150 112,156.25 $ 171,568.75 $ 237,650 255,231.25 664,450.00 94,575 112,156.25 Fixed monthly expenses: Wages and salaries Utilities Insurance 22,000 14,000 Correct Correct Correct Correct