Sand Company manufactures park benches. The company is preparing detailed budgets for the first quarter and has assembled the following information to assist in the budget preparation: a. The Marketing Department has estimated sales as follows for the first half of the year (in units): January 35,000 February 60,000 March 55,000 April 33,000 May 27,000 June 48,000 The selling price of the park benches is $77 per unit. b. All sales are on account. Based on past experience, sales are collected in the following pattern: 45% in the month of sale 50% in the month following sale 5% uncollectible Sales for December totaled $1,540,000. C. The company maintains finished goods inventories equal to 20% of the following month's sales. d. Each park bench requires 1,300 recycled plastic gallon containers, the recycled product is sometimes hard to acquire. Therefore, the company requires that the ending inventory of containers be equal to 40% of the following month's production needs. The inventory of containers on hand at the beginning and end of the quarter will be: December 20,800,000 Containers 31 March 31 ? Containers e. Containers costs $0.05 each. One-quarter of a month's purchase of the container is paid for in the month of purchase; the remainder is paid for in the following month. The accounts payable on April 1 for purchases of plastic during March will be $2,100,150. Required: 1. Calculate the estimated sales, by month and in total, for the first quarter. 2. Calculate the estimated quantity of park benches that need to be produced in January, February, March, and April. 3. Calculate the quantity of Plastic (in containers) that needs to be purchased by month and in total, for the first quarter. 4. Calculate the cost of the raw material (plastic) purchases by month and in total, for the first quarter