Symphony Electronics produces wireless speakers for outdoor use on patios, decks, etc. Their most popular model is the All Weather and requires four separate XL12 components per unit. The company is novi.r planning raw material needs forthe second quarter. Sales ofthe All Weather are the highest in the second quarter of each year as customers prepare for the summer season. The company has the following inventory requirements: a. The finished goods inventory on hand atthe end of each month must be equal to 16,600 units plus 10% ofthe next month's sales. "he finished goods inventory on March 31 is budgeted to be 28,300 units. b. "be raw materials inventory on hand at the end of each month must be equal to 20% ofthe following months production needs for raw materials. The raw materials inventory on March 31 for XL 12 is budgeted to be 98,600 components. c. "be company maintains no work in process inventories. A sales budget for the All Weather speaker is as follows: Budgeted Sales in Units April 123, 666 May 142, 866 June 213,866 July 112, 666 August 59,369 Required: 1. Prepare a production budget for the All Weather for April, May, June and July. \fIINater Sport Inc. manufactures a small personal water tube used for children learning to swim. Management is now preparing detailed budgets for the third quarter, July through September, and has assembled the following information to assist: a. The Marketing Department has estimated sales as follows for the remainder ofthe year [number of watertubes]: July 6, 560 October 3,1366 August 5, 160 Novembe I" 2, 66-6 Septembe I" 4, 160 Decemhe I" 2, 16-6 The selling price ofthe water tubes is $60. b. All sales are on account. Based on past experience, sales are expected to be collected in the following pattern: 56% in the month of sale 45% in the month following sale 5% uncollectible The beginning accounts receivable balance {excluding uncollectible amounts) on July 1 will be $160500. c. The company maintains finished goods inventories equal to 20% ofthe following months sales. The inventory offinished goods on July 1 will be 1,320 units. 0'. Each water tube requires 3 kilograms of synthetic polyisoprene rubber compound. To prevent shortages, the company would like the inventory of synthetic rubber compound on hand at the end ofeach month to be equal to 20% ofthe following month's production needs. The inventory of synthetic rubber compound on hand on July 1 will be 3.780 kilograms. e. The synthetic rubber compound costs $4.00 per kilogram. Water Sport pays for? '36 of its purchases in the month of purchase; the remainder is paid for in the following month. The accounts payable balance for synthetic rubber compound purchases will be $11700 on July 1. Required: 1. Prepare a sales budget. by month and in total. for the third quarter. [Show your budget in both units ofwater tubes and dollars.) Also prepare a schedule of expected cash collections. by month and in total. for the third quarter