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Bird Warehouse makes backyard birdhouses. The company sells the birdhouses to home improvement stores for $14 per birdhouse. Each birdhouse requires 3.0 board feet of wood, which the company obtains at a cost of $5 per board foot. The company would like to maintain an ending stock of wood equal to 10% of the next month's production requirements. The company would also like to maintain an ending stock of finished birdhouses equal to 25% of the next month's sales. Sales data for the company is as follows: (Click the icon to view the sales data.) O (Click the icon to view additional data.) Read the rgguirements. Requirement 1. Prepare the sales budget for the first three months of the year, as well as a summary budget for the quarter, including a separate section that details the type of sales made (cash versus credit.) Bird Warehouse Sales Budget For the Quarter Ended March 31 March January February Unit sales Multiply by: Sales price per unit Total sales revenue Cash sales Credit sales Total sales revenue Data table October actual sales (prior year) .... November actual sales (prior year) ..... December actual sales (prior year) January projected sales Quarter More info Requirements Prepare the following budgets for the first three months of the year, as well as a summary budget for the quarter: 1. 2. 3. 4. 5. 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 140,000 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 i! February projected sales .. March projected sales.... April projected sales print Units 94,000 83,000 82,000 78,000 92,000 98,000 109,000 In any given month, 30% 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 $520,000. The company pays 55% of its direct materials purchases in the month of purchase, and pays the remaining 45% in the month after purchase. for the first quarter. print Clear all Done Check answer Done