Q2 Freese Inc., is in the process of preparing the fourth quarter budget for 2020, and the following data have been assembled: The company sells a single product at a price of $60 per unit. The estimated sales volume for the next six months is as follows: September.. October.... .13,000 units ...12,000 units November.. December.. January.. February 14,000 units 20,000 units ...9,000 units ..10,000 units All sales are on account. The company's collection experience has been that 32% of a month's sales are collected in the month of sales, 64% are collected in the month following the sale, and 4% are uncollectible. It is expected that the net realizable value of accounts receivables (i.e., accounts receivables less allowance for uncollectible accounts) will be $ 499,200 on September 30, 2020. Management's policy is to maintain ending finished goods inventory each month at a level equal to 40% of the next month's budgeted sales. The finished goods inventory on September 30, 2020 is expected to be 4,800. .To make one unit of finished product, 5 pounds of materials are required. Management's policy is to have enough materials on hand at the end of each month to equal 30% of the next month's estimated usage. The raw materials inventory is expected to be 19,200 pounds on September 30, 2020. The coat per pound of raw materials is $4 and 70% of all purchases are paid for in the month of purchase; the remainder is paid in the following month. The accounts payable for raw material purchases is expected to be $75,960 on September 30, 2020. Required: Prepare a sales budget in units and dollars, by month and in total for the fourth quarter (October, November and December) of 2020. b. Prepare a schedule of cash collections from sales by month and in total for the fourth quarter of 2020. Prepare a production budget in units, by month and in total for the fourth quarter of 2020. Prepare a materials purchases budget in pounds, by month and in total, for the fourth quarter of 2020. Prepare a schedule of cash payments for materials by month and in total for the fourth quarter of 2020.