Shown below is the sales forecast for Tulip's industry. For the first four Quarter of the comingyear. Quarter 1 sales (in units) are 40 000 increases in sequent by the multiple of 20 000 for therest of quarters except for the last quarter sales are 50 000 units. Tulip's single product sells for 8$. Sales collected in the following pattern, 75% in the quarter of sales, and the remaining25% in the following quarter. The financial statement position (FSP) showed $65 000balance of account receivables. All of which will be collected in the first quarter. The company desires an ending finished goods inventory at the end each quarter equalto 30% of the budget sales unit sales for the next quarter. It had 12 000 units in handon December, 31. Beginning balance of finished goods is 10 000 units Five pounds of raw materials are required to complete one unit of product. TulipCompany require ending raw materials inventory at the end of each quarter equal to10% of following quarter's production needs. On December, 31 the raw materials onhand are 23 000 Pounds. Beginnings balance of raw materials is 18000 Pounds. The raw materials cost $0.08 per pound. Raw materials purchased are paid in thefollowing pattern: 60% paid in the quarter of purchases are made the remaining 40%paid in the following quarter. On January the company FSP showed $81 500 in accountpayable for raw materials purchase. Required: Prepare the following budgets and schedule for the year, showing quarterly and total figures: a. A sales budget and a schedule of expected cash collection. b. A production Budget. c. A direct materials budget and a schedule of expected cash payments for purchasesMartials. d. A direct labor budget if direct labor's rate and cost are 0.40 and 18$ sequentially. e. A MOH budget taking in consideration the Variable MOH rate is $4 and fixed MOHare $60 000, the only none-cash items is depreciation, which is $15 000 per quarter. f. An ending finished goods inventory Budget