A company plans to manufacture and sell 400 units of a domestic appliance per month at a price of 6558 The ratio of costs to selling price are as follows: (% of selling price) Raw materials 30% Packing materials 10% Direct labour 15% Direct expense 5% Fixed overheads are estimated at 4,32,000 per annum. The following norms are maintained for inventory management: Raw materials 30 days Packing materials 15 days Finished goods 200 units Work-in-progress 7 days Other particulars are given below: (a) Credit sales represent 80% of total sales and the dealers enjoy 30 working days credit. Balance 20% are cas sales. (b) Creditors allow 21 working days credit for payment. (c) Lag in payment of overheads and expenses is 15 working days. (d) Cash requirements to be 12% of net working capital. (e) Working days in a year are taken as 300 for budgeting purpose. Prepare a Working Capital requirement forecast for the budget year