The accountant of Bayu Laut Corporation, a producer of electronic appliances, has collected the following information for the purpose of preparing budgets for the first quarter of 2022: 1. Projected monthly sales is as follows: Month January February March April Sales (Unit) 4,000 7,000 5,000 6,000 Selling price per unit (RM) 1,250 1,250 1,200 1,200 2. Finished goods inventory on January 1, 2022 is 1,400 units. 3. The policy for finished goods ending inventory is 20 percent of unit sales for the following month. 4. Five units of direct material is used for each unit of product. Cost of direct material is RM100.00 per unit. Required: 5. The policy of raw material ending inventory is 30 percent of production requirements for the following month. 6. Raw material beginning inventory on January 1, 2022 is 6,000 units and raw material ending inventory on March 31, 2022 is estimated at 8,400 units. a) Prepare the following budgets on monthly basis and total for the first quarter of 2022: i) Sales Budget. ii) Production Budget. iii) Direct Material Usage and Purchase Budget. b) Company's records show accounts receivable balance on January 1, 2022 is RM350,000. During the first quarter of 2022, it is estimated that 50 percent of sales is cash basis. For credit sales, 50 percent is collected in the month of sales and the balance is collected in the following month. Based on this information, prepare Schedule of Cash Collection on monthly basis and total for the quarter.