The Marr's Landing Company manufactures digital watches. The company is preparing detailed budgets for the second quarter and has assembled the following information to assist in the budget preparation: 1. The Marketing Department has estimated sales as follows for the 2nd&3rd quarters (in units): The selling price of the digital watches are $122.50 per unit. 1. All sales are on account. Based on historical data, sales are collected in the following pattern: 25% in the month of sale 66% in the month following sale 9\% Uncollectible Sales for March totaled $9,555,000 1. The company maintains finished goods inventories equal to 30% of the following month's sales. 2. Each digital watch requires 0.75 pounds of titanium, a material that is sometimes hard to acquire. Therefore, the company requires that the ending inventory of titanium be equal to 42.5% of the following month's production needs. The inventory of titanium on hand at the beginning and end of the quarter will be: 1. Titanium costs $34.00 per pound. 60% of a month's purchases of titanium is paid for in the month of purchase; the remainder is paid for in the following month. The accounts payable on April 1 for purchases of titanium during March will be $325,370. Required: Exam #3 (Ch 8, 9 \& 10).xisx (All 3 questions are in this file) 1. Calculate the estimated sales, by month and in total, for the second quarter: 2. Calculate the estimated quantity of pocket watches that need to be produced in April. May, June, and July. 3. Calculate the quantity of Titanium (in pounds) that needs to be purchased by month and in total, for the second quarter. 4. Calculate the cost of the raw material (Titanium) purchases by month and in total, for the second quarter