11 Mast Corporation seeks your assistance in developing cash and other budget information for May, June, and July. At April 30, the company had cash of $11.000 accounts receivable of $871,000, inventories of $137,885, and accounts payable of $43,305. The budget is to be based on the following assumptions. 3 aints Each month's sales are billed on the last day of the month. . Customers are allowed a 2 percent discount if payment is made within 10 days after the billing date. Receivables are recorded in the accounts at their gross amounts (not net of discounts). The billings are collected as follows: 70 percent within the discount period, 15 percent by the end of the month, and 12 percent by the end of the following month. Three percent is uncollectible Purchase data are as follows . Of all purchases of merchandise and selling, general, and administrative expenses, 61 percent is paid in the month purchased and the remainder in the following month The number of units in each month's ending inventory equals 115 percent of the next month's units of sales. The cost of each unit of inventory is $11. . Selling, general, and administrative expenses, of which $4.000 is depreciation, equal 20 percent of the current month's sales. . Actual and projected sales follow. Dollars $204,800 March April May June July August 225,600 174,400 166,400 224,000 17,200 Units 12,800 14,100 10,900 10,400 14,000 14,200 Required: a. Compute the budgeted purchases in dollars for May Answer is complete and correct. 5 113.575 Budgeted purchases b. Compute the budgeted purchases in dollars for June. Answer is complete and correct. $ 159,940 Budgeted purchases c. Compute the budgeted cash collections during May (Do not round intermediate calculations.) Answer is complete and correct. Budgeted cash s collections 213.178 d. Compute the budgeted cash disbursements during June. (Do not round intermediate calculations.) Answer is complete but not entirely correct. Budgeted cash $159 285 disbursements e. Compute the budgeted number of units of inventory to be purchased during July Budgeted number of units