Wake Corporation has projected sales and production in units for the second quarter of the coming year as follows: Cash-related production costs are budgeted at \$6 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. The accounts payable balance on March 31 totais $270,000, which will be paid in April. All units are sold on account for $15 each. Cash collections from sales are budgeted at 55% in the month of sale, 35% 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 $485,000 ( $80,000 from February's sales and $405,000 from March's sales). The balance from February will be collected in April and $315,000 of the balance from March will be collected in April and $90,000 of the balance will be collected in May. Required: a. Prepare a schedule for each month showing expected cash disbufsements for Wake Corporation. b. Prepare a schedule for each month showing expected cash collections for Wake Corporation. Units of production Cost per unit Production cost Beginning accounts payable. April May June Expected Cash Disbursments April purchases May purchases June purchases Total cash disbursements Expected Cash Collections February sales March sales April sales May sales June sales Total cash collections