B. Opening cash balance on 1 January 2021 is expected to be RM30,000. The sales budget was as follow: RM November 2020 80,000 December 2020 90,000 January 2021 75,000 February 2021 75,000 March 2021 80,000 Debtors' settlement analysis according to below pattern: 60% within the month of sales, 25% the month following & 15% the month following. Purchases budget (extract) were as follows: December 2020 January 2021 February 2021 March 2021 RM 60,000 55,000 45,000 55,000 All purchases are on credit and past experience shows that 90% are settled in the month of purchase and the balance settled the month after. Monthly wages are RM15,000 and overhead of RM20,000 per month (including depreciation of RM5,000) are settled monthly. Taxation of RM8,000 has to be settled in February 2021 and the company will receive settlement of an insurance claim of RM25,000 in March 2021. You are required to: a) Prepare the cash budget for the month of January, February, and March 2021. (16 MARKS) b) Identify the importance of production budget for every business