Please help me fill in the information and provide the formulas. I need help understanding. Help for question P9-63A Comprehensive budgeting problem in the textbook Managerial Accounting 7e page 659-662

Requirements 1. Prepare a schedule of cash collections for January, February, and March, and for the quarter in total. Use the following format: 2. Prepare a production budget, using the following format: "Hint: Unit sales = Sales in dollars/Selling price per unit \begin{tabular}{l|lll|l} \hline SALES BUDGET: & *Hint: The book gives you total sales. You need to break it down into it's components \\ \hline Budgeted unit sales & & Jan & Feb & Mar \\ \hline Selling price per unit & & \\ \hline Total Sales & \end{tabular} k. The company's income tax rate is projected to be 30% of operating income less interest expense. The company pays $10,000 cash at the end of February in estimated taxes. 5. Prepare a canh paymenta budgot for direct labor, uaing the following format: a. Prepare a canh paymenta budget for manufacturing owerhand coata, uaing the follawing format: 7. Prepare a canh paymenta budget for operating espenaek, uxing the follawing format: 9-64A Comprehensive budgeting problem (Learning Objectives 2 \& 3) Martin Manufacturing is preparing its comprehensive budget for the first quarter of the upcoming year. The following data pertain to Martin Manufacturing's operations: 1. Prepare a combined canh budget, uning the following format 3. Prepare a direct materials budget, using the following format: 4. Prepare a cash payments budget for the direct material purchases from Requirement 3 , using the following format. (Use the accounts payable balance at December 31 of prior year for the prior month payment in January.) e. Most of the labor at the manufacturing facility is indirect, but there is some direct labor incurred. The direct labor hours per unit is 0.01 . The direct labor rate per hour is $12 per hour. All direct labor is paid for in the month in which the work is performed. The direct labor total cost for each of the upcoming three months is as follows: f. Monthly manufacturing overhead costs are $5,000 for factory rent, $3,000 for other fixed manufacturing expenses, and $1.20 per unit for variable manufacturing overhead. No depreciation is included in these figures. All expenses are paid in the month in which they are incurred. g. Computer equipment for the administrative offices will be purchased in the upcoming quarter. In January, Martin Manufacturing will purchase equipment for $5,000 (cash), while February's cash expenditures will be $12,000 and March's cash expenditures will be $16,000. h. Operating expenses are budgeted to be $1.00 per unit sold plus fixed operating expenses of $1,000 per month. All operating expenses are paid in the month in which they are incurred. No depreciation is included in these figures. i. Depreciation on the building and equipment for the general and administrative offices is budgeted to be $4,600 for the entire quarter, which includes depreciation on new acquisitions. j. Martin Manufacturing has a policy that the ending cash balance in each month must be at least $4,000. It has a line of credit with a local bank. The company can borrow in increments of $1,000 at the beginning of each month, up to a total outstanding loan balance of $150,000. The interest rate on these loans is 1% per month simple interest (not compounded). The company would pay down on the line of credit balance in increments of $1,000 if it has excess funds at the end of the quarter. The company would also pay the accumulated interest at the end of the quarter on the funds borrowed during the quarter. a. Actual sales in December were $70,000. Selling price per unit is projected to remain stable at $10 per unit throughout the budget period. Sales for the first five months of the upcoming year are budgeted to be as follows: b. Sales are 30% cash and 70% credit. All credit sales are collected in the month following the sale. c. Martin Manufacturing has a policy stating that each month's ending inventory of finished goods should be 25% of the following month's sales (in units). d. Of each month's direct materials purchases, 20% are paid for in the month of purchase, while the remainder is paid for in the month following purchase. Two pounds of direct material is needed per unit at $2 per pound. Ending inventory of direct materials should be 10% of next month's production needs. e. Most of the labor at the manufacturing facility is indirect, but there is some direct labor incurred. The direct labor hours per unit is 0.01 . The direct labor rate per hour is $12 per hour. All direct labor is paid for in the month in which the work is performed. The direct labor total cost for each of the upcoming three months is as follows