a. Explain 'market-based pricing'. Identify and explain the insights that customer-profitability analysis can provide to managers. Type your answer here (4 marks) I b. What is the master budget? Explain the behavioural aspects of budgeting. Type your answer here (4 marks) 6. Brilliant Manufacturing Lid prepares monthly cash budgets. Provided below is a set of relevant data extracted from existing reports: Credit sales Cash sales Purchases Depreciation expenses Marketing and administration expenses Proceeds from sale of old equipment Cash payment for delivery van May $320,000 125.000 200 000 5.400 196,000 June $300,000 184,000 260,200 5,400 200,000 9,200 40.500 I Credit sales are normally settled according to the following pattern: 35 per cent in the month of sale and 60 per cent in the month following the sale. Five per cent of accounts are never settled Credit sales in April 2019 were $290,000 Purchases are on credit, and entity policy is such that all purchases are paid for in the month following the purchase. Purchases in April 2019 were $220,000. The marketing and administration expenses are paid in the month they are incurred The cash balance at 30 April 2019 was $10,700, Required: Prepare a cash budget (all cash receipts and payments) for May and June 2019 clearly showing the ending cash balance for each month