Part #4: E Company has budgeted sales revenues of $160,000 forMay, $210,000 for June, $235,000 for July, and $172,000 for August.To prepare a cash budget, the company must determine the budgetedcash collections from sales. Generally the trend has been 55percent collected in the month of sale, 25 percent collected in themonth following sale, 18 percent collected in the second monthfollowing sale, and 2 percent uncollectible. Also, E Company grantsa 2 percent cash discount to customers who pay in the month of sale(so they only collect 98 percent of the total amount for thosesales instead of the usual 100 percent). Prepare a schedule of cashcollections for the month of July only. Part #5: At the beginningof September, L Company had 1,600 finished goods units. Budgetedsales for October, November, December, and January are 8,000 unitsand 10,200 units and 13,600 units and 7,400 units respectively. LCompany wants to have sufficient units on hand at the end of eachmonth to meet 20 percent of the following month’s budgeted sales.Prepare a Production Budget with columns for October, November,December and Total 4th Quarter.Part #6: H Company’s Direct LaborBudget indicates the number of direct labor hours to be used inJuly, August, and September are 20,000 and 19,100 and 22,900respectively. Variable overhead is expected to be $0.80 per directlabor hour. Fixed overhead per month is expected to be $6,200.Prepare an Overhead Budget with columns for July, August,September, and Total 3rd Quarter.   

Part #5: At the beginning of September, L Company had 1,600finished goods units. Budgeted sales for October, November,December, and January are 8,000 units and 10,200 units and 13,600units and 7,400 units respectively. L Company wants to havesufficient units on hand at the end of each month to meet 20percent of the following month’s budgeted sales. Prepare aProduction Budget with columns for October, November, December andTotal 4^th Quarter.

Part #6: H Company’s Direct Labor Budget indicates the number ofdirect labor hours to be used in July, August, and September are20,000 and 19,100 and 22,900 respectively. Variable overhead isexpected to be $0.80 per direct labor hour. Fixed overhead permonth is expected to be $6,200. Prepare an Overhead Budget withcolumns for July, August, September, and Total 3^rdQuarter.