Acu Darts Ltd buys and sells dartboards. The manager prepared the following budgeted contribution statement of comprehensive income for March:

R

Sales

Variable costs

Opening inventory

Purchases

Closing inventory

Variable selling expenses

Contribution

Fixed costs

Warehouse overheads

Marketing and administration

Net loss before tax

Additional information

The opening balance on the bank opening is R

of total sales and of inventory purchases are on a cash basis. These percentages vary from month to month, depending on available cash and discounts on offer.

The selling price per dartboard is R

All other expenses are incurred on a cash basis.

Acu Darts Ltd wants to have closing inventory of of the units sold during the month.

Cash payments in March to settle February credit purchases will amount to R

Cash receipts in March in respect of credit sales in February will amount to R

The variable cost per unit as budgeted for March is the same as in February.

Total depreciation amounts to R per month.

REQUIRED

Calculate the budgeted number of units in: opening inventory, purchases, sales and closing inventory.

Calculate the total variable cost per unit.

Prepare a cash budget for March and calculate the estimated closing balance in the bank account.