QUESTION I ABC Company is a manufacturer and seller of football boots. Information in units are gives below. Use the information to asswer all quesbons. on bodgeted sales Month January 2018 February 2018 March 2018 April 2018 May 2018 June 2018 July 2018 Units 25,000 42,000 30.000 36,000 30,000 45,000 Additional information: I. The selling price per unit is AFD 32 2. All sales are on account. Based on past experiences, sales are collected as tollow: Month following sale 65% Month following sale 35% 3- The company maintains finished goods inventories equal to S% of the following month's sales. The beginning inventory on March, Ist was 10,000 units. 3.1 Each shoe required 4 kg of raw material. The company requires that he ending inventory of raw material be equal to 25% of the following month's production noeds. The beginning inventary of material on March, I" was 24,000 units 3.2 3.3 The raw material cost AED 1.50 per kg 3.4 60% of the month's purchase of raw material is paid for in the month of purchase, the remainder is paid for in the fallowing month. The accounts payable balance at the end of February as AED 60,500 to be paid in full in April. Hareh Required: 1.1 Prepare a sales budget, by month in in total, for March, April and May. (4 marks) 1.2 Prepare a schedule of expected cash collection, by moeth and in total, for the March, April and May (14 marks) 1.3 Prepare a production of budget for each of the months of March, April and May (10 marks) 1.4 Prepare a direct material budget, by month and in total, for March, April and May (18 marks) 1.5 Prepare a schedule of expected cash disbursement, by month and in total, for March April and May (14 marks)