prepare only the production budget

Brookes Inc, manufactures basketballs for $20/unit. Brookes Inc. budgets on a quarterly basis and the sales department has budgeted for the following sales: Q1 Q2 Q3 94 10,000 11,000 12,000 14,000 > Please prepare the Sales Budget. Sales Budget For the year ended December 31, 2020 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year Expected Sales (units) 10,000 11,000 12,000 14,000 47,000 20 20 20 20 20 Selling Price (S/unit) Total Budgeted Sales $200,000 $220,000 $240,000 $280,000 $940,000 1 Brookes Inc does not collect all of the sales revenue in the period of sale. The accounts receivable department has budgeted for 85% of sales revenue to be collected in the period of sale and 15% to be collected in the next period. The accounts receivable beginning balance is $80,000 Please prepare the schedule of Expected Cash Collections Schedule of Expected Cash Collections Quarter 2 Quarter 3 Quarter 1 Quarter 4 Year Accounts Receivable, beginning balance 80,000 80,000 First quarter sales 170,000 30,000 200,000 Second quarter sales 187,000 33,000 220,000 Third quarter sales 204,000 36,000 240,000 238,000 238,000 Fourth quarter sales 217,000 274,000 Total cash collections 250,000 237,000 978,000 Brookes Inc. has spoken with the Production Department and determined that it would like to have a desired ending finished goods inventory of 20% of next periods sales. The assumed beginning inventory of finished goods for 01 and the desired ending inventory of provided. Please prepare the Production Budget. Production Budget For the Year Ended December 31, 2019 Quarter 2 Quarter 3 Quarter 1 Quarter 4 Year Budgeted Sales Add: Desired ending inventory of finished goods 3,000 3,000 Total needs Deduct: Beginning inventory of finished goods 2,000 2.000 Required Production