Question 25 (6 points) Saved Susan's Silken Scarves Ltd. produces scarves in a variety of designer colours. 2021 Master budget data is as follows: Quarter 1 (Jan - Mar) $1,500,000 2 (Apr - Jun) $1,800,000 3 (Jul - Sep) $2,100,000 4 (Oct - Dec) $2,400,000 Sales (all on account) Raw material purchases $450,000 $540,000 $630,000 $720,000 Direct labour wages $600,000 $720,000 $840,000 $960,000 $150,000 $180,000 $210,000 $240,000 Manufacturing overheard (includes $50,000 depreciation per quarter) SG&A expenses (includes $35,000 depreciation per quarter) $195,000 $225,000 $230,000 $235,000 Additional information: 1. 80% of sales are collected in the current quarter, 20% in the following quarter. 2. Current quarter raw material purchases are paid in the following quarter. 3. Direct labour, manufacturing overhead and SG&A expenses are paid in the quarter incurred. 4. Sales for the quarter ended December, 31, 2020 were $1,200,000. 5. The accounts payable balance at the end of 2020 was $275,000. Required: For the first quarter of 2021 (use the space below and show your work) a) What were the total cash receipts? (2 marks) b) What were the total cash disbursements? (2 marks) d) What was the ending balance in accounts receivable? (1 mark) Paragraph B I Uv A II OD + V ... Parta) Part ) Part ) Add a File Record Audio Record Video