The marketing department of Bongo Mfg, Inc. has submitted the following sales forecast for the upcoming fiscal year: First Quarter Second Quarter Third Quarter Fourth Quarter Budgeted Unit Sales 15,000 16,000 12,000 15,000 The selling price of the companys product is $25.00 per unit. Management expects to collect 30% of each quarters sales in cash. All remaining sales are sold on account (credit sales). Management expects to collect 75% of credit sales in the quarter in which sales are made, 20% in the following quarter, and 5% of sales are expected to be uncollectible. The beginning balance of accounts receivable, all of which is expected to be collected in the first quarter is $66.000 The company expects to start the first quarter with 3,000 units in finished goods inventory. Management desires an ending finished goods inventory in each quarter equal to 20% of the next quarters budgeted sales. The desired ending finished goods inventory for the fourth quarter is 2,400 units. 9) Prepare the companys sales budget and schedule of expected cash collections. 10) Prepare the companys production budget for the upcoming fiscal year.