Which of the following budgets must be prepared before preparing the direct material purchases budget? cash budget direct labor budget O production budget O more than one of the above budgets must be prepared before preparing the direct material purchases budget O none of the above budgets must be prepared before preparing the direct material purchases budget Question 2 TN-4RC Enterprises has budgeted sales for the next five months as follows: June July August September October Budgeted Sales in Units 4,400 units 2,700 units 5,600 units 3,800 units 1,200 units The selling price is $20 per unit. 20% of the company's sales are cash sales and 80% of the company's sales are made on account. The sales on account are collected in the pattern 30% in the month of sale, 37% in the month following sale, 23% in the second month following sale, and the remainder is collected in the third month following sale. Calculate TN-4Rc's budgeted accounts receivable at October 31. 7 pts