The Volt Battery Company has forecast its sales in units as follows: January 2,200 February 2,050 March 2,800 April 2,500 May 2,750 June 2,900 July 2,600 Volt Battery 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 2,640 units, which is consistent with this policy Materials cost $11 per unit and are paid for in the month after purchase. Labor cost is $4 per unit and is paid in the month the cost is incurred. Overhead costs are $13,000 per month. Interest of $9.400 is scheduled to be paid in March and employee bonuses of $14,600 will be paid in June. a. Prepare a monthly production schedule for January through June. July Projected unit sales Desired ending inventory Total units required Beginning inventory Units to be produced January 2,200 2,460 4,660 2,640 2,020 Volt Battery Company Production Schedule February March 2.050 2.000 2.400 3,000 4,450 5,000 2,460 2,400 1,990 2.600 April 2,500 3,300 5,800 3,000 2,800 May 2,750 3,480 6,230 3,300 2,930 June 2.900 3.120 6,020 3,480 2,540 b. Prepare a monthly summary of cash payments for January through June. Volt Battery produced 2.000 units in December Volt Battery Company Summary of Cash Payments February March December January April May June Units produced Material cost Labor cost Overhead cost Interest Employee bonuses Total cash payments $ $ 0 $ $ 0 $ 0 $