Daniel Chu Ltd, a new business, will start production on 1 April, but sales will not start until 1 May. Planned sales for the next nine months are as follows:
Sales ................Units
May ...................500
June ...................600
July ....................700
August ..............800
September .......900
October ............900
November ........900
December ........800
January .............700

The selling price of a unit will be a consistent £100 and all sales will be made on one month’s credit. It is planned that sufficient finished goods inventories for each month’s sales should be available at the end of the previous month.
Raw materials purchases will be such that there will be sufficient raw materials inventories available at the end of each month precisely to meet the following month’s planned production.
This planned policy will operate from the end of April. Purchases of raw materials will be on one month’s credit. The cost of raw material is £40 a unit of finished product.
The direct labour cost, which is variable with the level of production, is planned to be £20 a unit of finished production. Production overheads are planned to be £20,000 each month, including £3,000 for depreciation. Non-production overheads are planned to be £11,000 a month, of which £1,000 will be depreciation.
Various non-current (fixed) assets costing £250,000 will be bought and paid for during April.
Except where specified, assume that all payments take place in the same month as the cost is incurred.
The business will raise £300,000 in cash from a share issue in April.

Required:
Draw up the following for the six months ending 30 September:
(a) A finished inventories budget, showing just physical quantities.
(b) A raw materials inventories budget showing both physical quantities and financial values.
(c) A trade payables budget.
(d) A trade receivables budget.
(e) A cash budget.