Summer 2021 Question One (40 Points) Great Company manufactures metal cans; it has the following historical collection pattern for its credit sales. 50 percent collected in the month of sale. 20 percent collected in the first month after sale. 15 percent collected in the second month after sale. 13 percent collected in the third month after sale. 2 percent uncollectible. The sales on account have been budgeted for the last seven months as follows: April May June July August September October 236,000 248,000 320,000 340,000 360,000 400,000 340,000 Required: Compute the estimated total cash collections during September from credit sales. Question Two (60 Points) Sunday Company budgets on an annual basis. The following beginning and ending inventory levels (in units) are planned for the year 2019. Four units of raw material are required to produce each unit of finished product. January 1 December 31 Raw material 55,000 73,000 Work in process 10,000 10,000 Finished goods 130,000 80,000 Required: A. If Sunday Company plans to sell 235,000 units during the year, compute the number of units the company would have to manufacture during the year. (24 points) B. If 270,000 finished units were to be manufactured by Sunday Company during the year, determine the amount of raw material to be purchased. (36 Points)