Problem 13-58 (Algo) Budgeted Purchases and Cash Flows (LO 13-4, 5, 6) Most Corporation seeks your assistance in developing cash and other budget Information for May June, and July. At April 30, the company had cash of $11,000, accounts receivable of $876,000, Inventories of $142,560, and accounts payable of $32,153. The budget is to be based on the following assumptions. Each month's sales are billed on the last day of the month . Customers are allowed a 2 percent discount if payment is made within 10 days after the billing date, Receivables are recorded in the accounts at their gross amounts (not net of discounts), . The billings are collected as follows: 70 percent within the discount period, 15 percent by the end of the month, and 12 percent by the end of the following month. Three percent is uncollectible Purchase data are as follows. Of all purchases of merchandise and selling, general, and administrative expenses, 13 percent is paid in the month purchased and the remainder in the following month. The number of units in each month's ending inventory equals 120 percent of the next month's units of sales. The cost of each unit of inventory is $12. Selling general, and administrative expenses, of which $5,000 is depreciation, equal 10 percent of the current month's sales. Actual and projected sales follow. March April May June Dollars $183, 600 188,700 168,300 210.000 221,000 16.400 Units 10.800 11,100 9.900 12.400 13.000 13,200 July August Required: a. Compute the budgeted purchases in dollars for May. h Commute the budgets purchases in dollars for June. the remainder in the following month. The number of units in each month's ending inventory equals 120 percent of the next month's units of sales. The cost of each unit of inventory is $12. . Selling, general, and administrative expenses, of which $5,000 is depreciation, equal 10 percent of the current month's sales. Actual and projected sales follow: March April May Dollars $183,600 12 180,700 168,300 210,800 221.000 16,400 Units 10,800 11,100 9.900 12.400 13.000 13.200 June Required: a. Compute the budgeted purchases in dollars for May. b. Compute the budgeted purchases in dollars for June. C. Compute the budgeted cash collections during May. (Do not round intermediate calculations. Round your final answer to nearest whole dollar.) d. Compute the budgeted cash disbursements during June. (Do not round intermediate calculations. Round your final answer to nearest whole dollar.) e. Compute the budgeted number of units of inventory to be purchased during July a. Budgeted purchases for May b. Budgeted purchases for June c. Budgeted cash collections d. Budgeted cash disbursements e. Budgeted number of units