Anggun Sdn Bhd manufactures and sells beauty products. The management accountant of the company has been instructed to prepare a cash budget for the second quarter of 2021. The operational budgets of the company for 2021 are as follows: Sales Purchases Month February March April May June RM 500,000 470,000 400,000 350,000 315,000 RM 230,000 270,000 255,000 230,000 225,000 Wages RM 210,000 205,000 210,000 210,000 192,000 Factory overhead RM 110,000 155,000 135,000 110,000 115,000 Selling and distribution overhead RM 48,000 55,000 40,000 39,000 40,000 Additional information: 1. 2. 20% of the total sales are in cash with 5% discount given and the balance are credit sales. Debtors collection will be made in two stages: Stage one - 50% of debtors pay one month following the sales. Stage two - 50% of the debtors pay in the second month following the sales. Normally, 3% of the total credit sales are uncollectable in the second stage of debtors' collection All purchases are on credit. The amount is to be settled in the month of purchase and are entitled for a 5% purchase discount. 90% of wages expenses are paid in the month incurred while the accrued amount will be paid within the first week of the following month. Factory overheads are to be settled in the month incurred, while selling and distribution overhead are paid in the following month. The company adopts the straight-line method for calculation of depreciation expenses. The depreciation expenses included in the overheads are as follows: 3. 3. 4. 6. Factory overhead is inclusive of depreciation on factory machinery of RM384,000 per annum Selling and distribution overhead is inclusive of depreciation on delivery vans of RM198,000 per annum. Loan repayments of RM150,000 will be paid in six monthly equal instalments starting December 2020. In June 2021, the company is expected to gain a profit of RM5,000 from selling its motor vehicle with a carrying value of RM40.000. The cash balance as at 1 April 2021 is RM450,000. 6. 7. Required: Prepare a cash budget for the second quarter of year 2021