A company is preparing budgets for a three-month period (November to January). Details include: (i) Sales: November RM115,200 December RM180,600 January RM108,900 10% of sales are for cash. 70% of the value of credit sales are payable in the month following sale, with the balance one month later. (ii) Gross profit: Product are bought-in and have a gross profit margin of 30% of sales. Products are purchased in the month before expected sale, payable 60% in the month following purchase with the balance one month later. (iii) Overheads: Variable overheads are 6% of sale value. Fixed overheads, including depreciation of RM9,100, are RM26,400 per month. All overheads, excluding depreciation, are paid for in the month incurred. (iv) Capital expenditure: Investment of RM44,000 in fixed assets will be paid for in January. The following information relates to the three-month period just ended: (i) Sales: August RM176,700 September RM153,000 October RM120,200 (ii) Products were purchased in the month before sale. (iii) The cash balance at the end of October was RM4,640. Required: (a) Prepare a cash budget for each month (November, December and January). (13 marks) (b) Calculate: (i) the value of stock at the end of October (ii) the budgeted value of payables at the end of December (iii) the budgeted value of receivables at the end of January