Opambour Ltd is a new business that has been formed to produce electrical spare parts. sales in units are estimated as follows.

Year 1
Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1
12,150	12,600	13,050	11,700	12,150

Selling price per unit will be GH135.

The cost of production of each unit is estimated as follows:

Raw materials acquired GH45

Direct labour GH50

Fixed overheads GH18

All sales are made on credit with 75% collected during the month of sales, 15% collected during the next month and 8% collected during the second month following the month of sale. The rest will be uncollectible.

Suppliers of the raw materials will allow one month credit.

Wages and fixed overhead will be paid as they are incurred in production. The fixed overhead include depreciation which is calculated on the straight line and allocated on monthly basis.

The business would acquire noncurrent assets at a cost of GH300,000 at the start of business. These assets are expected to have a five year life with a residual value of GH5,000 at the end of that time.

Goods produced at the end of each quarter would be enough to satisfy 25% of the next quarters sales.

A small factory unit will be leased at an annual rent of GH8,000 per annum, payable quarterly in advance. A security deposit of GH2,000 payable in the first quarter will also be required.

Required:

Produce for the first year of trading the following:

1. The sales budget
2. The purchases budget
3. The cash budget