The Ace Battery Company has forecast its sales in units as follows: January February March April 2,600 May 2,450 June 2,400 July 2,900 3,150 3,300 3,000 Ace always keeps an ending inventory equal to 120 percent of the next month's expected sales. The ending inventory for December (January's beginning inventory) is 3,120 units, which is consistent with this policy. Materials cost $15 per unit and are paid for in the month after production Labour cost is $8 per unit and is paid in the month the cost is incurred. Overhead costs are $15,000 per month. Interest of $9,800 is scheduled to be paid in March, and employee bonuses of $15,000 will be paid in June. a. Prepare a monthly production schedule for January through June (Enter all values as positive value.) Ace Battery Company Production Schedule February March January April May June July Forecasted unit sales Desired ending inventory Beginning inventory Units to be produced Ace Battery Company Production Schedule February March January April May June July Forecasted unit sales Desired ending Inventory Beginning inventory Units to be produced May June b. Prepare a monthly summary of cash payments for January through June. Ace produced 2,400 units in December Ace Battery Company Summary of Cash payments December January February March April Units produced Material cost $ $ $ $ Labour cost Overhead cost Interest Employee bonuses Total cash payments $