Problem I: Beneke Company has projected sales and production in units for the third quarter of 2023 as follows: Production costs, not including depreciation, are budgeted at $10 per unit produced. 70% of these costs are paid in the month in which they are incurred and the balance in the following month. Selling and administrative expenses are estimated to be $50,000 per month. The accounts payable balance on June 30 totals $175,000, which will be paid in July. All units are sold for $15 each. Cash collections from sales are budgeted at 80% in the month of sale, 10% in the month following the month of sale, and the remaining 10% in the second month following the month of sale. Accounts recelvable on July 1 totaled $500,000 ( $160,000 from May's sales and $340,000 from June's sales). Required: a. Prepare a schedule for each month showing budgeted cash disbursements for Beneke Company b. Prepare a schedule for each month showing budgeted cash recelpts for Beneke Company Beneke Company is working on its direct labor budget for the next two months. Each unit produced requires 0.25 direct labor-hours. The direct labor rate is $20 per direct laborhour. The production budget calls for producing 71,000 units in July and 61,000 units in August Required: Prepare the direct labor budget for July and August in both hours and dollars required