Management at Lumino inc, as grepariag budgets for the upcoming puarter, March to May Budgeted sales fin units) for the next five months are. Below is additional information that may be relevant in preparing the budgets. - The company produces and sells a product for $15,00 per unit. - To guard against inventory stockouts, the company has a pollicy of maintaining an ending inventory of 20x of the following month's budgeted sales. At the beginning of March, the company had 8,400 units in inventory. - Each unit of output requires 2 kilograms of direct material. To guand against stockouts of raw materials, the company has a policy of maintaining a raw materials inventory of 10k of the following month's production. At the beginning of March, the company has 9,980 Kalograms of direct materials on hand. Each kiogram of direct materials costs $2.50. - Each unit of output requires 0.2 hoors (12 minutes) of direct tabour and employees are paid a standard rate of $24,00 per hour. - The company applies overhead using a variable rate of 57,00 per direct labour hour. The fixed overhead is $28,365 per month. - Fifty percent of sales are anade in cash. The remaining 50% of sales are made on account. The company collects 6onk of sales made on account in the month of the sale, 20% in the month following the sale, and 18% in the second month following the sale. The company had Torat sales revenue of $140,625 in aanuary and $213,750 in february. - The company pays 705 of ins direct materials purchases in the month of the purchase and the remaining 30F in the month following the purchase. At the beginning of the quarter, the company owed its creditors $115,745 for purchases of direct materiais made in February. Required: (A) Prepare a sales budget for the months of March, April, and Miy and the total for the quarterend (B) Prepare a production budget for the months of March, April, and May, and the total for the quarter-end, [Note you might want to compute the production needs for June, since you will need that information for subsection (C). (C) Prepare the direct materials purchases budget for the months of March, April, and May. and the total for the quarter-end. (D) Prepare the direct labour budget for the months of March, April, and May, and the total for the euarter-end (E) Prepare a schedule showing cast collections (accounts recelvable) from sales expected for the months of March, Aprila and May. (F) Prepare the cash plyments on accounts payabie schedule (cash disbursements) for the months of March, April, and May