Omar Inc. manufactures an advanced swim fin for scuba divers. Management is now preparing detailed budgets for the third quarter, July through September, and has assembled the following information to assist in preparing the budget. The marketing department has estimated sales in units as follows for the remainder of the year. 1. The selling price of the swim fins is $35 per pair. 2. All sales are on account. Based on the experience, the company has learned that 40% of a month's of sales are collected in the month of sale, another 50% are collected in the month following sale, and the remaining 10% are collected in the second month of sale. Accounts receivables account on May 31,2023 is $147,000 3. The finished goods inventory on hand at the end of each month must be equal to 15% of the next month's sales. The finished goods inventory on hand in June 30 , is budgeted to be 810 units. And the budgeted finished goods on August 31 is 570 units. 4. Each pair of swim fins requires 3 pounds of geico compound. The company would like the inventory of geico compound on hand at the end of each month to be equal to 20% of the following month's production needs. The inventory of geico compound on hand on June 30 is budgeted to be 3,402 pounds and inventory on hand on September 30 is budjeted to be 2,280 pounds. You are required to prepare the following budgets using the information given in the question below to answers the questions 1. Budgeted sales in Dollars 2. Schedule of Expected cash collection 3. Production Budget 4. Direct Material Budget