QUESTION 1 (25 Marks) Tinta Bhd has projected sales and production in units for the second quarter of the year as follows: Sales ........ Production ..... April May June 30,000 20,000 25,000 ......... 25,000 25,000 30,000 Cash production costs are budgeted at RM6 per unit produced. Of these production costs, 40% are paid in the month in which they are incurred and the balance in the following month. Selling and administrative expenses (all paid in cash) amount to RM60, 000 per month. The accounts payable balance on March 31 totals RM96, 000, all of which will be paid in April. Assume that all units will be sold on account for RM15 each. Cash collections from sales are budgeted at 60% in the month of sale, 30% in the month following the month of sale and the remaining 10% in the second month following the month of sale. Accounts receivable on 315 March totaled RM255,000 (RM45,000 from February's sales and the remainder from March) Required: a) Prepare a schedule for each month showing budgeted cash disbursements for Tinta Bhd. (10 marks) b) Prepare a schedule for each month showing budgeted cash receipts for Tinta Bhd. (12 marks) c) Define Master Budget