prepare a collection schedule and production budget for year 2024

Rachel Janet is preparing the 2024 budget for one of BestKayak's roto-moulded kayaks. Extensive meetings with members of the sales department and executive team have resulted in the following unit sales projections for 2024 . Selling price is $547. For promotion activities, BestKayak's gives a 10% discount on selling price in September and December. All sales are on credit. The company expects that it can collect 20% of sales in the month of sales, 50% of sales in the next month, and the remaining 30% in second month. Sales in November 2023 totaled to 250 units at the selling price of $547 and in December 2023 to 1000 units at the 10% discount selling price. BestKayaks' policy is to have finished goods ending inventory in a month equal to 20% of the next month's anticipated sales. This policy also applied to ending inventory of finished goods on December 31, 2023