Question 4 (3 Marks) XYZ produces phone case. The company has three different models, which are sold to local retail stores in UAE. The Sales manager expects the following sales for the next year: Case Selling price Silver 350 Gold 60 Strass 90 Annual sales (units) 80) 000 60 000 40 000 The budgeted annual sales are distributed by month in the following percentages: Percentage of annual sales Month January February March April Mary June July 5 September October Novem December 6 6 8 12 16 22 The cash from sales is collected, 70% in the month of sale and the remainder in the following month. Required Prepare a monthly sales budget in units and dollars for all three models combined for the months June to December. Show the receivables in the balance sheet at the end of July to December and the budgeted cash collections from sales for July to December XYZ Sales Budget for the months June to December Month June July Aug Sept Oct Nov Dec Total TOY SALES IN UNITS Silver Gold Strass BUDGETED PRICES PER UNIT Silver Gold Strass BUDGETED SALES DOLLARS Silver Gold Strass TOTAL BUDGETED SALES RECEIVABLES CASH COLLECTIONS NA NA NA