Matoika Manufacturing's sales department has submitted the following sales budget for the upcoming fiscal year. Budgeted sales (units) 8.300 10,300 12,300 11,300 Help Sav 41 The selling price of the company's product is $23 per unit. Management expects to collect 65% of sales in the quarter in sales are made and 30% in the following quarter, 5% of sales are expected to be uncollectible. The beginning balance o receivable, all of which are expected to be collected in the first quarter, is $83,500. The company expects to start the first quarter with 2150 units in finished goods inventory. Management desires an er goods inventory in each quarter equal to 15% of the next quarter's budgeted sales. The desired ending finished good the fourth quarter is 2,400 units. Required: 1-a. Prepare the company's sales budget. Matoika Manufacturing Sales Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Total sales 236,900 190,900 $ $ 282,900 $ 259,900 $ 970,600 52 1-b. Prepare the schedule of expected cash collections Accounts receivable, beginning balance $ 83,500 1st Quarter sales 2nd Quarter sales 3rd Quarter sales 4th Quarter sales Total cash collections Help $ 83,500 $ 0 $ 0 $ 0 $ 0 2. Prepare the company's production budget for the upcoming fiscal year. Matoika Manufacturing Production Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Budgeted sales (units) 8,300 10,300 12,300 11,300 42,200 Add: Desired ending inventory 1,245 1,545 1,845 2,400 2,400 Total units needed 9,545 11,845 14,145 13,700 44,600 Deduct: Beginning inventory 2,150 Required production 7,395 Save & Exit Submit