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Waterways Corporation is preparing its budget for the coming year, 2017. The first step is to plan for the first quarter of that coming year. Waterways gathered the following information from the managers es Unit sales for November 2016 112,500 102,100 Unit sales for D ecember 2016 Expected unit sales for January 2017 113,000 Expected unit sales for February 2017 112,500 Expected unit sales for March 2017 116,000 Expected unit sales for April 2017 125,000 Expected unit sales for May 2017 137,500 Unit selling price $12 Waterways likes to keep 10% of the next month's unit sales in ending inventory. All sales are on account. 85% of the Accounts Receivable are collected in the month of sale, and 15% of the Accounts Receivable are collected in the month after sale. Accounts receivable on December 31, 201 totaled $183,780. ect Mater Item Amount Used per Unit Inventory, Dec. 3 Metal 1 lb 584 per lb. 5,177.5 lbs 12 oz O 64 per oz 3,883.125 lbs ast bbe 4 oz 54 per oz 1,294.375 lbs 2 lbs per uni 10,355.0 lbs Metal, plastic, and rubber together are 75d per pound per unit. Waterways likes to keep 5% of the materials needed for the next month in its ending inventory. Payment for materials is made within 15 days. 50% is paid in the month of purchase, and 50% is paid in the month after purchase. Accounts Payable on December 31, 2016, totaled $120,595. Raw Materials on December 31, 2016, totaled 11,295 pounds, ect Labor Labor requires 12 minutes per unit for completion and is paid at a rate of $8 per hour. Manufacturing overhead Indirect materials 30e per labor hour Indirect labor 50$ per labor hour 450 per labor hour Maintenance 25c per labor hour Salaries $42,000 per month Depreciation $16,800 per month Property taxes $2,675 per month $1,200 per month Maintenance $1,300 per month