Parksville Ltd. produces and sells Greentree. The selling price of Greentree is $55 per unit. The following information is an extract from the sales forecast report : Sales forecast (No of units) Aug 17,000 Sept 21,000 Oct 25,000 Parksville expects that 80% of its sales will be collected in the month in which the sales is made and the remaining 20% will be collected 1 month following the sales. Required: : (a) Compute the following (show workings using a sales budget or other means) (i) Budgeted Sales Revenue ($) for the month of Sept 2021. (1.5 marks) (ii) Aug sales revenue expected to be collected in the month of Sept 2021. (2 marks) (iii) Expected Total cash collections for the month of Sept 2021. (2 marks) (iv) Expected Total cash collections for the month of Oct 2021. (4.5 marks) (b) Assume that the management of Parksville has proposed to set a target ending finished goods for each month at 20% of the following month's sales. Parksville estimates that sales for the month of Nov will be 29,000 units. Compute the following (show workings using a production budget or other means): (i) Budgeted production (units) for the month of Sept 2021. (3 marks) (ii) Budgeted production (units) for the month of Oct 2021. (2 marks) (c) Explain with an appropriate illustration the term revolving budget'. (1 mark) (d) Parksville markets its products mainly to various Asian countries. The company also sources materials for its products mostly from China. Parksville expects that the prices of the materials it uses will increase due to a shortage of these materials from its main supplier in China. You have been tasked to prepare the master budget (ie. all the budgets) for the coming year 2021. (i) What information, data, assumptions and predictions would you require to prepare the budgets and explain why you need them. (ii) Parksville is trying to set new targets for its coming year and they intend to use a participative budgeting approach do so. Why might this approach be useful or otherwise for the company? (8 marks)