Group Project - Preparation of a Master Budget 6. The following are the projected cash expenditures for 2019 in USD: Al Rawabi Foods Company is a manufacturer and seller of Nutritional products. Information on actual and projected sales in units is given below for the Use this information to answer all parts of question one. Required: 1. Prepare a Sales budget in units and dirham for the months of July to September 2019 and for the quarter in total. The selling price per unit is USD 50. 2. Assume that the company collects 60% of its sales in the month of the sale, 40% in the month following the sale. Prepare a Cash Receipts schedule for 3 months On June 30, 2019, the company had a cash balance of USD 136,000 on hand. The company ending September 2019 and total for the quarter of 2019. Accounts Receivable has an arrangement with their bank to have a bank overdraft policy of maximum USD 250,000 balance as of June 30,2019 was USD 240,000 . as and when needed and borrows in the nearest ' 000 s. The interest on the overdraft is 1.2% per month and paid at the time of loan repayment. The company also have a policy of maintaining 3. Refer to the projected sales that you have calculated. Prepare a Production Bndget a minimum cash balance of USD 100,000 at the end of cach month. for 3 months ending September 2019 and total for the quarter of 2019. The company's inventory at the end of each month must equal 20% of next month's 7. Prepare a Cash Budget for the third quarter of 2019. sales. On June 30,2019 , inventory balance was 6,000 units. 4. Preparc a Direct Materials Purchase Budget in quantity and in dollar amounts for 3 months ending September 2019 and total for the quarter of 2019 based on the production budget above. Onc unit of product requires 8 ounces of materials and the company's policy is to maintain an ending inventory of materials equal to 30% of next month's production needs. Each ounce of direct materials cost USD 3.50. June 31,2019 inventory balance was 48,000 ounces. 5. Assuming that the company's policy is to pay 70% of each month's cost of materials purchases in the same month and 30% in the month after, prepare a Cash Disbursement (cash payment) schedule for 3 months ending September 2019 and total for the quarter of 2019. The accounts payable balance at the end of June 2019 was USD 148,000