The management of Zigby Manufacturing prepared the following balance sheet for March 31 To prepare a master budget foc April, May, and June, management gathers the following information. 0. Sales for March total 22:100 unlts. Budgeted sales in units follow, April, 22100, May, 19,100; June, 19,500, and July, 22,100. The product's selling price is $3000 per unit and its total product cost is $25.50 per unle. b. Raw materlals inventory consists solely of direct materlals that cost $20 per pound. Company policy cals for a given month's ending materlals inventory to equal 50% of the next month's direct materlals iequirements. The March 31 raw materials inventory is 4.925 pounds. The budgeted June 30 ending raw materials imventory is 4,500 pounds. Each finished unit requlres 0.50 pound of direct c. Company policy calls for a given month's ending finished goods inventocy to equal 80% of the nexi month's budgeted unit sales materiats. The March 31 finished goods inventory is 17,680 unilts d. Each finished unitrequires 0.50 hour of direct labor at a rate of $25 per hour. e. The predetermined varlable overhead rate is $3.50 per direct labor houc Depreciation of $25.292 per mianth is the only fixed factory overhead hem. 4. Sakes commissions of 6% of sales are paid in the month of the sales. The sales manager's monthly salary is $4.000 9. Monthly general and administrative expenses include $22.000 for adrinistjative salaries and 0.95 monthy interest on the long term note payable h. The company budgets 30% of sales to be for cash and the semaining 70%6 on credit Credit sales are collected in full in the month following the sale (no credit sales are collected in the month of sale) 1. All raw matellals purchases are on credit, and accounts payable are solely ted to raw materiah parcharses Raw materals purchases are fuldy paid in the next month (none are pald in the month of purchase) 1. The minimum ending cash bulance for all months is 530,000 . If necessary, the conpany boriows enough cash using a loan to reach the mihimum Louns require an interest paryment of the at each month end belore any repaytment) if the month-erd preliminay conh batance exceeds the minimum. the excess, wil be used to repoy any loanc. k. Dividends of 520,000 ate budpeted to be declared and pakd in May 1. No cash payments for income tames bre budgeted in the second calendat quartet incorte lax wil be assesed at 35% in the quarter and budgeted to be pald in the third colendar quater. m. Equiphent purchases of $100,000 ate budgeted for the last day of June. Requlred: Prepare the lollowing budgets for the months of ApriL. May. and June 1. Sales budget. 2. Production budget 3. 0vect materials budget. 4. Duect labor budgel 5. Foctory overitied budget. 6. Selling expense budget 7. General and administrative experse buoget 8. Schedule of cash receipti 9. Schedule of cash payments for direct materials. 10. Cash budget. 11. Budgeled income siotement for entie second ouarter faot monthly) 12. fludoeted balance sheet at fune 30 . Required: Prepare the following budgets for the months of April, May, and June: 1. Sales budget. 2. Production budget. 3. Diect materials budget 4. Direct labor budget. 5. Factory overhead budget 6. Selling expense budget 7. General and administrative expense budget. 8. Schedule of cash recelpts. 9. Schedule of cash payments for direct materials 10. Cash budget. 11. Budgeted income stalement for entire second quarter (not monthly) 12. Budgeted balance sheet at June 30 . Complete this question by entering your answers in the tabs below. Budgeted income statement for entire second quarter (not monthly) (Round rour final answers to the nearest whole sollar.)