Tony Stark and Company has projected sales and production in units for the second quarter of the coming year as follows: Sales Production April May 50,000 40,000 60,000 50,000 June 60,000 50,000 Kash-related production costs are budgeted at $5 per unit produced. Of these production costs, 40% are paid in the month in which they are incurred and the balance in the following month. Selling and administrative expenses will amount to $100,000 per month. The accounts payable balance on March 31 totals $190,000, which will be paid in April. All units are sold on account for $14 each. Cash collections from sales are budgeted at 60% in the month of sale, 30% in the month following the month of sale, and the remaining 10% in the second month following the month of sale. Accounts receivable on April 1 totaled $500,000 ($90,000 from February's sales and the remainder from March). Submission Instructions a. Prepare a schedule for each month showing budgeted cash disbursements for the Company b. Prepare a schedule for each month showing budgeted cash receipts for the Company