paste answer and caluclations into box, need to beable to copy

QUESTION 2: PUNCAK LTD PUNCAK Ltd's budgeted production and sales of shoes for Dec 2020 - Apr 2021 months are os follows: Sales (UNITS) Production (UNITS) 600 December 600 January 650 600 February 700 650 March 700 700 April 800 700 The selling price per unit will be 170. All sales will be made on credit. The business plans to offer a cash discount (of 10% of the amount owed) to those customers who pay within the same of the month of sale. Customers for 40% of units sold are expected to qualify for the discount. Remaining 60% of the sales is expected to be paid during the next month (i.e one month later). It is planned that sufficient finished goods inventories for each month's soles should be available at the end of the previous month. For raw material purchases, the cost of raw material is 12 per unit. It is bought in the month of production and peid one month in errears (ie later). The direct labour cost, which is variable with the level of production, is planned to be 217 per unit of finished production and it is poid in the month of production. Overhead costs are planned to be 12,000 each month including 5,000 for depreciation Overhead costs are paid in the same month. Company bought on equipment for 330.000 in Jon ond equal payments were made over Feb-Apr. Opening cash balance at the start of Jan (1) is 45.000. Required: Draw up a cash budget for the 4 months from 1 January to 30 April 2021, with a column for each month. The budget should, among other things, show each end-of-month cash balance. (35 marks)