Requirement: a) Prepare a sales budget for the month of July, August and 10 points September (2 marks). b) Prepare a cash collection from sales schedule for the month of July, August and September (2 marks). c) Prepare a production budget for the month of July, August and September (3 marks). d) Prepare raw materials purchase budget for the month of July, August and September (3 marks). Rectangule ABC Corporation makes one product and has provided the following information to help prepare the master budget for the next four months of operations: $ 92 Budgeted selling price per unit Budgeted unit sales (all on credit): July.......... August September..... October ...... November 9,000 11,300 10,400 10,800 10,500 Raw materials requirement per unit of output Raw materials cost 4 $ 1.00 pounds per pound Credit sales are collected: 40% in the month of the sale 60% in the following month Raw materials purchases are paid: 30% in the month of purchase 70% in the following month The ending finished goods inventory should equal 20% of the following month's sales. Some 2000 units of finished goods was brought out from June. The ending raw materials inventory should equal 30% of the following month's raw materials production needs. Some 13,000 pounds of raw materials were brought out from June. At the end of June, accounts payable for raw materials purchases amounted to $8000