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On 15th December, 2011, company bought premises costing Rs. 2,00,000 and equipment costing Rs. 3.00,000 On the same date a loan to the extent of 60% of cost of these assets was received from bank. The loan is to be repaid by twenty equal quarterly installments payable on 15th March, June, September, and December each year. Interest @ 15% p.a. on unpaid balance is to be paid with installment. The commercial production began from 1" January, 2012. The target sales are as under: Jan 1000 units Feb 1500 units March 2500 units The cost and sales per units are as under: Raw material Rs. 5 units @ Rs. 10/- 50 per unit Wages 2 hour @ Rs. 20/- 40 per unit. Factory Expenses Variable Rs. 20 per unit. Fixed Rs. 10,000 per month Administration Exp. Rs. 5,000 per month Selling Expenses Rs. 20 per unit. Sales Price Rs. 200 per unit. The stock of raw materials is to be maintained at 5,000 units and of finished goods at 1,000 units. The purchase production for the stock should be effected in January The processing time may be ignored. The terms of credit are- 1. Cash sales will be 500 units per month and remaining sales will be on credit of one month. It is expected that 60% will pay within credit period and remaining will pay a month later. 2. Payment for purchases of material is to be made as 25% on delivery and balance one month later. 3. Wages are to be paid fortnightly but after lapse of 3 days thereafter. 4. Fixed factory expenses are payable at the end of the month to which they relate. 5) Remaining factory and administration expenses are payable 60% in same month and balance in following month. 6) Selling expenses are to be paid a month after sales is effected. You are required to prepare Cash budget for period from December 2011 to March-2012