XYZ Company makes one product and it provided the following information to help prepare the master budget for its first four months of operations:

1.The budgeted selling price per unit is $80. Budgeted unit sales for June, July, August, and

September is 9,400, 20,000, 13,000, and 10,000 units, respectively. All sales are on credit.

2.30% of credit sales are collected in the month of the sale and 70% in the following month.

3.The ending finished goods inventory equals 20% of the following month's unit sales.

4.The ending raw materials inventory equals 15% of the following month's raw materials

production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $4.00 per pound.

Requirements:

1."Prepare a" sales budget for July?

2.What are the accounts receivable balance at the end of July?

3.According to the production budget, how many units should be produced in July?