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Please help me with Part D and Part E! All of the numbers in the table are correct, I just need help with the empty
Please help me with Part D and Part E! All of the numbers in the table are correct, I just need help with the empty spaces.
Freese Incorporated is in the process of preparing the fourth quarter budget for 2022 , and the following data have been assembled: - The company sells a single product at a price of $53 per unit. The estimated sales volume for the next six months is as follows: - All sales are on account. The company's collection experience has been that 30% of a month's sales are collected in the month of sale, 68% are collected in the month following the sale, and 2% are uncollectible. It is expected that the net realizable value of accounts receivable (i.e., accounts receivable less allowance for uncollectible accounts) will be \$327,964 on September 30, 2022. - Management's policy is to maintain ending finished goods inventory each month at a level equal to 30% of the next month's budgeted sales. The finished goods inventory on September 30, 2022, is expected to be 2,520 units. - To make one unit of finished product, 5 pounds of materials are required. Management's policy is to have enough materials on hanc at the end of each month to equal 40% of the next month's estimated usage. The raw materials inventory is expected to be 17,640 pounds on September 30, 2022. - The cost per pound of raw material is $6, and 70% of all purchases are paid for in the month of purchase; the remainder is paid in the following month. The accounts payable for raw material purchases is expected to be $79,758 on September 30, 2022. Required: a. Prepare a sales budget in units and dollars, by month and in total, for the fourth quarter (October, November, and December) of 2022. b. Prepare a schedule of cash collections from sales, by month and in total, for the fourth quarter of 2022. c. Prepare a production budget in units, by month and in total, for the fourth quarter of 2022. d. Prepare a materials purchases budget in pounds, by month and in total, for the fourth quarter of 2022. e. Prepare a schedule of cash payments for materials, by month and in total, for the fourth quarter of 2022. Complete this question by entering your answers in the tabs below. Prepare a materials purchases budget in pounds, by month and in total, for the fourth quarter of 2022. Complete this question by entering your answers in the tabs below. Prepare a schedule of cash payments for materials, by month and in total, for the fourth quarter of 2022. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollarsStep by Step Solution
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