Scora Incorporated sells a single product for $50 per unit. Budgeted sales units for the next three months follow Budgeted sales units January February 2,000 2,500 March 1,900 Prepare a sales budget for the months of January, February, and March SCORA INCORPORATED Salon Budget January February March Budgeted sales units Selling price per unit Total budgeted sales Champ Incorporated budgets the following sales in units for the coming two months. Each month's ending Inventory of finished units should be 60% of the next month's sales. The April 30 finished goods inventory is 150 units. May June Budgeted sales units 250 290 Prepare the production budget for May. CHAMP, INCORPORATED Production Budget May Add: Desired ending inventory Total required units Units to produce Liza's budgets sales of $47,000 for May and $55,000 for June. Assume 60% of Liza's sales are for cash. The remaining 40% are credit sales; credit customers pay the entire amount owed in the month following the sale. Prepare the schedule of cash receipts from sales for June. LIZA'S Schedule of Cash Receipts from Sales June Sales $ 55,000 Cash receipts from Cash sales Collections of prior period sales Total cash receipts $ 0 cos a. Beginning cash balance on March 1, $77,000. b. Cash receipts from sales, $306,000. c. Cash payments for direct materials, $132,000. d. Cash payments for direct labor, $78,000. e. Cash payments for overhead, $45,000. f. Cash payments for sales commissions, $8,000 g. Cash payments for interest, $180 (1% of beginning loan balance of $18,000) h. Cash repayment of loan, $18,000. Prepare a cash budget for March for Gado Company. GADO COMPANY Cash Budget March 0 Total cash available Less: Cash payments for ces Total cash payments 0 0 Loan activity 0