Osprey Corp. manufactures and sells a widget that has peak sales in the third quarter. The following information concerns operations for $2022-$ the coming year $-$ and the first two quarters of $2023.$

Osprey's sells widgets for $$10$ each. Budgeted unit sales for the next six quarters are as follows $($all sales are on credit$)$:

Year $2022$ Quarter Year $2023$ Quarter

$123412$

Budgeted unit sales $40,00050,000100,00060,00050,00040,000$

$80\%$ of the receipts due from sales is collected in the quarter the sales were made and the remaining $20\%$ is collected in the following quarter. On $12/31/21$ the company's balance sheet showed $$50,000$ in accounts receivable, all of which will be collected in the first quarter of $2022.$

The company desires an ending finished goods inventory at the end of each quarter equal to $20\%$ of the budgeted unit sales for the next quarter. On $12/31/21,$ the company had $8,000$ widgets on hand.

Six pounds of raw materials are required per widget. The company requires ending raw materials inventory at the end of each quarter equal to $20\%$ of the following quarter's production needs. On $12/31/21$ Osprey had $50,400$ pounds of raw materials on hand.

The raw materials costs $$0\mathrm{.}50$ per pound. Raw materials are paid for in the following pattern: $70\%$ in the quarter the purchases are made, and the remaining $30\%$ paid in the following quarter. On $12/31/21$ Osprey's balance sheet showed $$70,000$ in accounts payable for raw materials purchases, all of which will be paid in the first quarter of $2022.$ QUestions $1-3$ are correct I have tried $4-6$ so many times.Osprey Corp. manufactures and sells a widget that has peak sales in the third quarter.

The following information concerns operations for $2022-$ the coming year $-$ and the

first two quarters of $2023.$

Osprey's sells widgets for $$10$ each. Budgeted unit sales for the next six quarters

are as follows $($all sales are on credit$)$:

$80\%$ of the receipts due from sales is collected in the quarter the sales were made

and the remaining $20\%$ is collected in the following quarter. On $12/31/21$ the

company's balance sheet showed $$50,000$ in accounts receivable, all of which will

be collected in the first quarter of $2022.$

The company desires an ending finished goods inventory at the end of each

quarter equal to $20\%$ of the budgeted unit sales for the next quarter. On

$\frac{12}{31}\frac{?}{21},$ the company had $8,000$ widgets on hand.

Six pounds of raw materials are required per widget. The company requires ending

raw materials inventory at the end of each quarter equal to $20\%$ of the following

quarter's production needs. On $12/31/21$ Osprey had $50,400$ pounds of raw

materials on hand.

The raw materials costs $$0\mathrm{.}50$ per pound. Raw materials are paid for in the

following pattern: $70\%$ in the quarter the purchases are made, and the remaining

$30\%$ paid in the following quarter. On $12/31/21$ Osprey's balance sheet showed

$$70,000$ in accounts payable for raw materials purchases, all of which will be paid

in the first quarter of $2022.$

$1.$What are Osprey's expected cash collections in the $1$st quarter of $2022?$

$370,000$

$2.$What are Osprey's expected cash collections in the $4$th quarter of $2022?$

$680,000$

$3.$ How much of the $3$rd quarter $2022$ sales will be collected in the $4$th quarter of $2022?$

$200,000$

$4.$ You will need to prepare a Production Budget. How many widgets need to be produced in the $3$rd quarter of $2022?$

$5.$ You will need to prepare a Direct Materials Budget. How many pounds of materials will need to be purchased in the $2$nd quarter of $2022?$

$6.$ You will need to prepare a Schedule of Expected Cash Payments for materials, What are the expected cash disbursements for materials in the $2$nd quarter of $2022?$Osprey Corp. manufactures and sells a widget that has peak sales in the third quarter.

The following information concerns operations for $2022-$ the coming year $-$ and the

first two quarters of $2023.$

Osprey's sells widgets for $$10$ each. Budgeted unit sales for the next six quarters

are as follows $($all sales are on credit$)$:

$80\%$ of the receipts due from sales is collected in the quarter the sales were made

and the remaining $20\%$ is collected in the following quarter. On $12/31/21$ the

company's balance sheet showed $$50,000$ in accounts receivable, all of which will

be collected in the first quarter of $2022.$

The company desires an ending finished goods inventory at the en