The following data and estimates are available for a project of Buildit Limited for August, September and October 2009: August (R) 90 000 24 000 10 000 7.000 Opening stock Material usage Sales Wages Fixed overheads Variable Overheads 9.000 The following information is available regarding direct materials: September (R) 7 000 18 000 September (R) 100 000 26 000 10 000 August (R) 10 000 16 000 October (R) 120 000 29 000 10 000 8 000 October (R) 12 000 20 000 November 8.000 1. 2.V 3. 4.V 5. 6. 7. Additional information 210) 30% of the sales are for cash, and the balance is received the following month. Cash sales for July amounted to R29 400. Since wages are paid on specific days, only 75% of a month's budgeted wages are paid in that month. The rest is paid in the following month. R5 000 of the wages for July are due to be paid during August. Fixed overheads include R3 000 per month for depreciation. Payment of fixed overheads is delayed by one month. July's fixed overheads amounted to R10 000. 60% of the variable overheads is paid for in the month in which they were incurred and 40% is to be paid one month later. Variable overheads for July amounted to R6 000. Purchases of direct materials are paid for in the month purchased. The opening cash balance in August is R23 500. A tax bill of R50 000 is to be paid in August. Prepare a cash budget for August, September and October 2009