a. Opening cash balance (including bank) balance $ 2,200 July 2020 

b. Production in units: March 2,140, April 1,240, May 1,270, June 1,300, July 1,320, August 1,350, Sep 1,370, Oct 1,380, Nov 1,340, Dec 1,310, Jan 2021 1,260, Feb, 1,250. 

c. Raw materials used in production cost $13 per unit. Of this 60% is paid in the month of production and 40% in the month after production. 

d. Direct labour costs of $6 per unit are payable in the month of production. 

e. Variable production cost are $5 per unit, payable 75% in the same month as production and 25% in the month following production. Sales at $37 per unit: Mar 1,260, Apr 1,200, May 1,320, Jun 1,290, Jul 1,400, Aug 1,300, Sep 1,350, Oct 1,400 Nov 1,390 Dec 1,400 

f. All goods are sold on credit. Seventy (70%) percent of the value of credit sales is received one month after sale, 20% two months after sale and 8% three months after sale. The balance is written off as bad debt. 

g. Fixed overhead of $400 per month payable each month. 

h. Amben ltd. has placed an order for three new forklift trucks that will cost $25,000 each. The scheduled payment date is in October. 

i. Cash from a loan secured on the land and buildings of $90,000 at an interest rate of 7.5% is due to be received on 1 August. 

j. Depreciation on the forklift is $2,000 per annum. 

k. An interim dividend and tax thereon, $34,000 to be paid in November. 

l. An old forklift will be sold in July for $5,000.