Waterways Corporation is preparing its budget for the coming year, 2022. The first step is to plan for the first quarter of that coming year. The company has gathered information from its managers in preparation of the budgeting process 114,000 101,000 112,000 Sales Unit sales for November 2021 Unit sales for December 2021 Expected un't sales for January 2022 Expected unit sales for February 2022 Expected unit sales for March 2022 Expected unit sales for April 2022 Expected unit sales for May 2022 Unit selling price 113,000 117,000 126,000 138,000 $12 Waterways likes to keep 10% of the next month's unit sales in ending inventory. All sales are on account. 85% of the Accounts Receivable are collected in the month of sale, and 15% of the Accounts Receivable are collected in the month after sale. Accounts receivable on December 31, 2021, totaled $101.800. Direct Materials Direct materials costo cents per pound. Two pounds of direct materials are required to produce each unit Waterways likes to keep 5% of the materials needed for the next month in its ending inventory. Raw Materials on December 31, 2021 totaled 11.210 pounds. Payment for materials is made within 15 days. 50% is paid in the month of purchase, and 50% is paid in the month after purchase Accounts Payable on December 31, 2021. totaled $120.595. Direct Labor Labor requires 12 minutes per unit for completion and is paid at a rate of 59 per hour Manufacturing Overhead Indirect materials 30% per bor hoor Indirect labor SO per labor hour Utilities per bor hour Maintenance 304 per taboro Salaries $41.000 De month $16.400 per month per month Depreciation Property taxes Insurance Maintenance $2.800 $1.200 per month $1200 per month Selling and Administrative Variable sing and administrative cost perut $1.70 Advertising $14.000 a month Insurance $1300 month Salaries 573.000 a month Deprectioge $2.900 month Other foredeti $200 a month Other information The Cashbance on December 31, 202, 5102.000, but has decided it would be to maintain a cash balance of at least 5700.000 beginning on January 31 2022. Dividends are paid each month at the rate of $2.30 per show for 5140 share outstanding. The company has an con line of credit Romney Bank The term of the screen ruires borrowing to be $1.000 increment interest Waterways borrows on the first day of the month and the last day of the month A 5550.000 eur purchased for February (c) Your answer is partially correct. For the first quarter of 2022, prepare a direct materials budget. (Round cost per pound to 2 decimal places, eg. 0.25 and all othe answers to decimal places, eg. 2.520.) WATERWAYS CORPORATION Direct Materials Budget For the First Quarter of 2022 First January February Units to be Produced 113400 Direct Materials Per Unit 2 2 Total Pounds Required for Production 226800 Add Desired Ending Inventory Total Materials Required Less Beginning Materials Inventory TUOTTE Direct Materials Purchases Cost Per Pound Total Cost of Direct Materials Purchases $ Save for Later Attempts: 2 of 3 used Submit Answer budget. (Round cost per pound to 2 decimal places, eg. 0.25 and all other First Quarter March Quarter 113400 117900 2 2 226800 235800 loc $ $ Attempts: 2 of 3 used Submit