Mr Ramli is the account executive of a merchandising company. He is responsible for preparing the company's budgets. He has been requested to prepare the budgets for the following two months. Below is the information regarding the company's planning and policies: 1. The following schedule consists of actual and forecasted sales. The selling price of its prod- uct is RM50 per unit. ated ress Month January........ February March April ....... May June. Total Sales (RM) 180,000 156,800 179,000 194,000 200,000 210,000 Period 020 2TMA TA 2. About 30% of sales are in cash, and the balance is on account. Below is the estimated cash collections from credit sales: Percentage of Sales

Mr Ramli is the account executive of a merchandising company. He is responsible for preparing the company's budgets. He has been requested to prepare the budgets for the following two months. Below is the information regarding the company's planning and policies: 1. The following schedule consists of actual and forecasted sales. The selling price of its product is RM50 per unit. 2. About 30% of sales are in cash, and the balance is on account. Below is the estimated cash collections from credit sales: 3. The company determines that the ending inventory should always equal to 30% of the cost of goods sold of the following month. The inventory cost or the cost of goods sold averages about 45% of the unit-selling price. 4. All the merchandise purchases are on account, and its schedule of payments is as follows: Period Parrantana nf Dairrhacac Instructions Prepare the following budgets: b. Schedule of cash collections for March and April c. Purchases, ending inventory, and cost of goods sold budgets for March and April d. Schedule of payments for purchases for March and April e. Statement of Profit or Loss Budget for the two-month period ending April 30, 2018