Please help me to solve this problem, and give me the correct answer, thank you so much

Objective e objective of Problem 3 is to reinforce your understanding of the preparation of budgets at has become concerned about the profitability and cash needs for the business as it grows. You have been asked to p Operating and Financial Budgets. the three months of January, February and March and the repare some budgets for the first quarter of 2019: quarter the first quarter of the year is the slowest in terms of sales, Pat has asked you to also produce a cash nth and the quarter in total in order to ensure he has adequate cash. He would also like you to in total. Pat would like to begin the process with a production budget and related purchases budgets for budget for each mo prepare a budgeted quarterly income statement. The following sales-related information is provided Budgeted 2019 Unit Sales: Pan February March 12,000 April 14,000 January 7,000 8,000 Additional information for your budget preparation is as follow Given the sales mix expected for 2019, the weighted average sales price per pan for the budget period will be $40.00 All sales are on account (credit) and are collected 45% in the month of sale and 55% in the month following the month of sale. Accounts receivable from December 2018 credits sales is expected to be S396,000 on 12/31/18 a) b) c) Perfect Pans has a policy that each month's ending inventory of finished goods (pans) should be 30% of the d) Ending inventory of materials should be 15% of the next month's production needs in pounds. On average, e) Materials purchases are paid 40% in the month of purchase and 60% in the month following the month of f Each unit produced will take 0.25 DLH. The estimated wage rate for 2019 is $36.00 per hour. Direct following month's sales in units. Ending inventory on December 31, 2018 followed this pattern each pan will take 10 pounds of material. The expected price for material is S0.30 per pound. Considering the April production schedule, the desired ending inventory of materials in March is 22,500 pounds purchase. Accounts Payable for purchases on 12/31/18 is expected to be $29,100 labor costs are paid 50% in the month in which the work is performed and 50% in the following month Amounts owed (wages payable) for direct labor were expected to be $74,000 on 12/31/18. This amount will be paid in January