Waterways Continuing Problem 21 (Part Level Submission) Waterways Corporation is preparing its budget for the coming year, 2017. The first step is to plan for the first quarter of that coming year, Waterways gathered the following information from the managers Sales Unit sales for November 2016 Unit sales for December 2016 Expected unit sales for January 2017 113,000 Expected unit sales for February 2017 112,500 Expected unit sales for March 2017116,000 Expected unit sales for April 2017 Expected unit sales for May 2017 Unit selling price 112,500 102,100 125,000 137,500 $12 water ways likes to keep 10% of the next month's unit sales in ending inventory Al sales are on account. 85% o the Accounts Receivable are collected in the month of sale, and 15% of the Accounts Receivable are collected in the month a er sale. Accounts receivable on December 31, 2016, totaled $183,780 Direct Materials Item Metal Plastic Rubber Amount Used per Unit 1 lb 58c per lb. 12 oz 6e per oz 40z @ 5 per oz 2 Ibs per unit Inventory, Dec. 31 5,177.5 Ibs 3,883.125 lbs 1,294.375 bs 10,355.0 Ibs Metal, plastic, and rubber together are 75 per pound per unit