From the following information, you are required to prepare a Monthly Cash Budget for the three Months ending 30th June: Month Sales TZS 000 Materials TZS 000 Wages TZS 000 Production TZS 000 Sell& Admin TZS 000 December 6,000 3,600 1,300 450 320 January 6,500 4,000 1,500 450 320 February 7,000 4,800 1,500 500 350 March 7,500 4,500 1,500 600 350 April 8,000 4,600 1,600 600 400 May 8,500 5,000 1,800 700 400 June 9,000 5,200 2,000 700 450 Other information: Credit terms are: Sales-3 Months to debtors. 10% of sales are on cash. On average, 50% of credit sales is paid on the due date while the other 50% is paid in the Month following. Creditors [materials] -2 Months Lag in payments: Wages- 4 1 Month Overheads- 2 1 Month Cash and Bank Balance on 1st April is expected to be TZS 3,000,000. Plant and machinery to be installed in February at a cost of TZS 48,000,000 will be paid for by Monthly installments of TZS 1,000,000 from 1st April. Preference share dividends of 5% on capital of TZS 100,000,000 are to be paid on 1st June. Calls on 500 Equity Shares at TZS 2,000 per share are expected on 1st May. Dividends from investments amounting to TZS 500,000 are expected on 30th June. Income Tax [advance] to be paid in June, TZS 1,000,000.