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Rangoon Limited makes a single product, the unit cost of which is budgeted as follows: Rs 60 Direct materials Direct labour Variable production overhead 48 24 132 The selling price is Rs200 per unit of product. There has been no changes for the last six months. Additional information: (a) Sales in units for 2021 are expected to be: January February March April 1,000 1,200 1,400 1,600 Credit sales represent 60% of total sales. 40% of debtors pay in the month following sale while the remainder pay in the second month. Cash sales are entitled to a 2% discount Please see page 5 - 5 (d) (1) 75% of units sold in a particular month are produced in the previous month, and 25% are produced in the same month, Materials required for one month's production are purchased in the month of production. Suppliers are paid in the month following purchase. Labour costs are paid in the month in which they are incurred. 60% of variable production overhead is paid in the month of production and the remainder in the next month. Fixed overhead is R$480,000 per annum and are incurred uniformly. Dividends of Rs6,000 is to paid in March 2021. Machinery of Rs10,000 is to be purchased in January, and paid in February 2021. A loan of Rs 20,000 will be taken in March 2021. Cash balance at 1st January 2021 is forecast to be Rs24,000. Credit sales are expected to be Rs95,000 and Rs100,000 for November and December 2020 respectively. (8) 6) Showing all relevant workings, prepare a cash budget for the period January to March 2021