Biuamono Lici has been tornved to buy gold bars and then modified into jewelry to meet the need ! its customers. The business would acquire Non-Current Assets costing GH 110,000 and 000 bars of gold on the first day of business. The non-current assets are expected to have a six- year life with a residual value of GHC 2,000 at the end of the period. Buamono l.t td expects sales for the first two months to be 10.0()() units with a 10% increase in month following. The selling price would be GH 1.500 per unt lor the first four months and increase it further by 15% thereafter The firm's cost of production for a unit of item is as followings: Cost of gold bars Direct labour Production overheads GlIC 500 GHC 350 GHC 350 The production overhead per unit includes allocation of depreciation. The annuai deprectat on is calculated on a straightline hasis an is llocated on a monthly basis Suppliers of gold bars wili allow one month's credit. Sales are settled as follows:7% in the month of sale and the remaining 30% in the month following. Wages are paid for as they are incurred. Production overheads would be paid for as they are ncurred The stock of finished goods at the end of each month will be sufficient to satisfy 20% of the planned sales of the same month whereas that of gold burs would remsin unchanged It may be assumed that sales are evenly spread throughout the month Required Produce for each month of the first six months of trading: 1. Sales budget 2. Production budget 3. The Cash budget