Wilson Inc. manufactures basketballs for $20/unit. Wilson Inc. budgets on a quarterly basis and the sales department has budgeted for the following sales: Q1 Q2 Q3 Q4 10,000 11,000 12,000 14,000 The Basketball's selling price is $35 each. Please prepare the Sales Budget. Sales Budget For the year ended December 31, 2020 Quarter 1 Quarter 2 Cuarter a Charter Expected Sales (units) Selling Price/unit) Total Budgeted Sales Focus Support Ne-1-00-29.1445 te to search o . do INO 3:30 2020 Wilson Inc. does not collect all of the sales revenue in the period of sale. The accounts receivable department has budgeted for 85% of sales revenue to be collected in the period of sale and 15% to be collected in the next period. The accounts receivable beginning balance is $80,000. Please prepare the Schedule of Expected Cash Collections. Schedule of Expected Cash Collections Quarter 2 Cuarter 3 Quarter 1 Quarter 4 Accounts Receivable, beginning balance 80,000 First quarter sales Second quarter sales Third quarter sales Fourth quarter sales Total cash collections Wilson Inc. has spoken with the Production Department and determined that it would like to have a desired ending finished goods inventory of 20% of next periods sales. The assumed beginning inventory of finished goods for 01 and the desired ending inventory of Q4 is provided. Please prepare the Production Budget. Production Budget For the Year Ended December 31, 2019 Quarter 2 Quarter 3 Quarter 1 Quarter 4 Budgeted Sales Add: Desired ending inventory of finished goods 3,000 Total needs Deduct: Beginning inventory of finished goods 2,000 Required Production