• Shafiq hopes to start a new business on 1 March selling surfboards. 

• His balance at bank on that day will be $3200. 

• He intends to sell each surfboard for $160. On 1 June, the price will increase to $190 per surfboard. 

• The variable cost per surfboard is expected to be $85. 

• In preparation for the summer season, Shafiq intends his inventory level to be 60 surfboards by 1 June. 

• Shafiq intends to employ his brother, Massod, to help out in the workshop for three months from 1 March. Massod will be paid $40 per day for five days a week. 

• With Massod's help, Shafiq hopes to make up to a maximum of ten surfboards a week, whereas he can only make up to six surfboards alone. 

• The inventory on 31 July is expected to be 28 surfboards. His fixed overheads, excluding depreciation, are expected to be $500 per month. 

• Any bank suplus over $1000 at the end of each month will be taken as Shafiq's personal drawings. 

• All transactions will be on a cash basis.

Required 

a. Prepare a production budget for each of the five months ending 31 July, assuming Massod is employed. 

b. Prepare a cash budget for each of the five months ending 31 July. Include the maximum amount that Shafiq can withdraw for personal use.