Michael Scott Paper Company has begun its first year of operations. Michael has heard that you are an expert on budgeting and has asked you to help him prepare some relevant budgets: He has submitted the following sales forecast for the uncomind fiscal year an sales are on acount: 15 Quarter 2nd Quarter 3rd Quranterth Ouarter 18,000 12 000 34.000 298000 Budgeted units ales The selling price of the company's product is $15.00 per unit Management expects to collect on ofsales in the quarter in which the sales are made, 25% in the following quarter and 5 ofsales are expected to be uncollectible. The beginning balance of onnurits rebeivable all of which is expected to be collected in the first quarter, is 30 000 The company expects to start the first quarter with 2 200 units in finished goods inventory. Management des res an ending finished goods inventory in each quarter equal to 20% of the next quarter's budgeted sales. The desired ending finished goods inventory for the fourth quarter is 3,520 units. e Required: You MUST use the tables provided below to complete the budgets. ONLY microsoft excel files will be accepted. NO OTHER FILE TYPES Y Compute the company's totalsales b) Complete the schedule of expected cash collections, e) Prepare the company's production budget for the upcoming fiscal year. What is the most important budget in the master budget? Explain, (Maximum two sentences