Soprano Co. is in the process of preparing the second quarter budget for 2019, and the following data have been assembled: The company sells a single product at a selling price of $42 per unit. The estimated sales volume for the next six months is as follows: March April May 6,500 units 7,400 units 10,500 units June July August 8,200 units 9,400 units 6,500 units All sales are on account. The company's collection experience has been that 42% of a month's sales are collected in the month of sale, 52% are collected in the month following the sale, and 6% are uncollectible. It is expected that the net realizable value of accounts receivable (i.e., accounts receivable less allowance for uncollectible accounts) will be $141,960 on March 31, 2019. Management's policy is to maintain ending finished goods inventory each month at a level equal to 53% of the next month's budgeted sales. The finished goods inventory on March 31, 2019, is expected to be 3,922 units. To make one unit of finished product, 4 pounds of materials are required. Management's policy is to have enough materials on hand at the end of each month to equal 40% of the next month's estimated usage. The raw materials inventory is expected to be 14,469 pounds on March 31, 2019. The cost per pound of raw material is $4.00, and 80% of all purchases are paid for in the month of purchase; the remainder is paid in the following month. The accounts payable balance for raw material purchases is expected to be $24,971 on March 31, 2019. Required: a. Prepare a sales budget in units and dollars, by month and in total, for the second quarter (April, May, and June) of 2019. April Expected sales in units Selling price per unit Total sales May June Total b. Prepare a schedule of cash collections from sales, by month and in total, for the second quarter of 2019. Cash collections from: March sales April May June Total April sales May sales June sales Total cash collections c. Prepare a production budget in units, by month and in total, for the second quarter of 2019. Beginning inventory of finished goods Units to be produced Goods available for sale Desired ending inventory of finished goods Quantity of goods April May June Total d. Prepare a materials purchases budget in pounds, by month and in total, for the second quarter of 2019. (Do not round intermediate calculations.) Beginning inventory of raw materials Purchases of raw materials Raw materials available for use Desired ending inventory of raw materials Quantity of raw materials to be used in production April May June Total e. Prepare a schedule of cash payments for materials, by month and in total, for the second quarter of 2019. (Do not round intermediate calculations.) Cash payments for: April May June Total March purchases April purchases May purchases June purchases Total cash payments