Noche Building Blocks is preparing its budget for 2021. Production will be as follows: Qtr 1 2021 Qtr 2 2021 Qtr 3 2021 Qtr 4 2021 Production (in blocks) 600,000 625,000 700,000 850,000 Otr 1 2022 650,000 Each block requires 3.0 pounds of the raw material blockrock, and each pound of blockrock costs $0.50. Noche projects it will have 325,000 pounds of blockrock on hand at the end of 2020 and wants to have an ending inventory each quarter of 20% of the next quarter's production needs. Prepare the direct materials purchases budget in both pounds and dollars by quarter and in total for the year 2021. Gretchen and Gilbert has projected the revenues for the next several months. Typically, 30% of sales are cash sales, with the remainder of the sales on credit. Of the credit sales, 15% are typically collected in month of the sale, 60% are collected in the month following the sale, 23% are collected in the 2nd month following the sale, and 2% are deemed uncollectible. The sales estimates follow: $ Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 580,000 600,000 550,000 650,000 750,000 725,000 700,000 Prepare the cash receipts budget for the first quarter of 2021