Zortek Corp. budgets production of 410 units in January and 370 units in February. Each finished unit requires three pounds of raw material Z, which costs $3 per pound. Each month's ending inventory of raw materials should be 30% of the following month's budgeted production. The January 1 raw materials inventory has 150 pounds of Z. Prepare a direct materials budget for January ZORTEK CORP. Direct Materials Budget For Month Ended January 31 Budget production (units) Materials requirements per unit Materials needed for production (lbs) Add: Budgeted ending inventory (lbs.) Total materials requirements (bs) Loss Beginning inventory (lbs.) Materials to be purchased (lbs) Materials to be purchased Total cost of direct materials purchases 370 units 3 lbs 1.110 lbs lbs ibs ibs 0 lbs per i Kingston anticipates total sales for June and July of $390,000 and $498,000, respectively. Cash sales are normally 65% of total sales of the credit sales, 15% are collected in the same month as the sale, 70% are collected during the first month after the sale, and the remaining 15% are collected in the second month after the sale. Determine the amount of accounts receivable reported on the company's budgeted balance sheet as of July 31. As of July 31 Porcent Amount Uncollected Uncollected Sales month Total Sales Credit Sales June $ 300,000 498,000 15% 85% July Total