You were recently hired as an assistant controller at Just Tables [JT]. JT sells one product, dining room tables made out of red cedar. You have been charged with preparing a cash budget for the second quarter {April to June} so that management can be aware of any nancing requirements. You have collected the following information to assist you in preparation of the quarterly budget: Recent and forecasted sales in units are as follows: January [actual] 140 February (actual) 220 March (actual) 200 April 220 May 400 June 360 July 320 August 390 September 2150 Tables are sold to retailers for $500 each. The company has a policy of having an ending inventory each month equal to 150% of the next month's sales. The inventory balance at March 31gt was 330 tables. Each table requires 15 board feet of red cedar, which the company purchases for $4 per board foot. To protect against disruptions in prod uction, management likes to keep enough cedar on hand at all times equal to 50% of the next month's production needs. This requirement had been met on March 315t in that the company had 3,6?5 board feet of red cedar in the warehouse. Purchases of lumber are paid for 50% at the time of purchase with the other 50% being paid the next month. All sales are on credit with 30% being collected in the month of sales, 50% being collected in the month following the month of sale and the remaining 20% being collected two months after the month of sale. JT has a tight credit policy and, as a result, does not have any bad debts. Tables are hand crafted taking, on average, 5 hours to assemble. Employees are paid $16 per hour and never work overtime. Manufacturing overhead includes all the costs of production other than the cedar and direct labour. The variable component is $25 per table manufactured and the xed component is $32,000 per month. Fixed manufacturing overhead includes $12,000 of depreciation. Manufacturing overhead is applied to tables on the basis of tables manufactured