Profit Planning. Shown below is the sales forecast for Tulip's industry. For the first four Quarter of the coming year. Quarter 1 sales (in units) are 40 000 increases in sequent by the multiple of 20 000 for the rest of quarters except for the last quarter sales are 50 000 units. Tulip's single product sells for 85. . Sales collected in the following pattern, 75% in the quarter of sales, and the remaining 25% in the following quarter. The financial statement position (FSP) showed $65 000 balance of account receivables. All of which will be collected in the first quarter. . The company desires an ending finished goods inventory at the end each quarter equal to 30% of the budget sales unit sales for the next quarter. It had 12 000 units in hand on December, 31. Beginning balance of finished goods is 10 000 units Five pounds of raw materials are required to complete one unit of product. Tulip Company require ending raw materials inventory at the end of each quarter equal to 10% of following quarter's production needs. On December, 31 the raw materials on hand are 23 000 Pounds. Beginnings balance of raw materials is 18000 Pounds. The raw materials cost $0.08 per pound. Raw materials purchased are paid in the following pattern: 60% paid in the quarter of purchases are made the remaining 40% paid in the following quarter. On January the company FSP showed $81 500 in account payable for raw materials purchase. Required: Prepare the following budgets and schedule for the year, showing quarterly and total figures: a. A sales budget and a schedule of expected cash collection. b. A production Budget. c. A direct materials budget and a schedule of expected cash payments for purchases Martials. d. A direct labor budget if direct labor's rate and cost are 0.40 and 185 sequentially. c. A MOH budget taking in consideration the Variable MOH rate is $4 and fixed MOH are $60 000, the only none-cash items is depreciation, which is $15 000 per quarter. f. An ending finished goods inventory Budget