make sure to complete all requirments Question $1$

Question $2$

Question $3$

Question $4$

Question $5$

Question $6$

Question $7$

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In any given month, $20\%$ of the total sales are cash sales, while the

remainder are credit sales

The company's collection history indicates that $80\%$ of credit sales is

collected in the month after the sale, $10\%$ is collected two months

after the sale, $4\%$ is collected three months after the sale, and the

remaining $6\%$ is never collected.

Assume that the total cost of direct materials purchases in December

was $$510,000.$ The company pays $40\%$ of its direct materials

purchases in the month of purchase, and pays the remaining $60\%$ in

the month after purchase.

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Read the requirements.

Backyard Paradise

Sales Budget

For the Quarter Ended March $31$

Data table

Requirements

Prepare the following budgets for the first three months of the year, as well

as a summary budget for the quarter:

Prepare the sales budget, including a separate section that details

the type of sales made $($cash versus credit$)$

Prepare the production budget.

Prepare the direct materials purchases budget. Assume the

company needs $100,000$ board feet of wood for production in April.

Prepare the cash collections budget for January, February.

and March, as well as a summary for the first quarter.

Prepare the cash payments budget for direct materials purchases for

the months of January, February, and March, as well as a summary

for the first quarter.