QUESTION 1 REQUIRED Use the information provided below to prepare the Cash Budget for October, November, and December 2021. Provide separate monetary columns for each month. INFORMATION 1. The following data and estimates are available for a project of Fego Limited for September to December 2021: September R 130 000 40 000 16 000 16 000 17 000 Sales Wages Fixed overheads Variable overheads Materials purchases October R 110 000 34 000 16 000 13 000 14 000 November R 120 000 38 000 December R 140 000 39 000 16 000 17 000 18 000 16 000 15 000 16 000 2. Sixty percent (60%) of the sales are expected to be for cash and the balance on credit. Credit customers usually pay in the month after the sale. 3. Labour costs are paid for in the month in which they are incurred. 4. Fixed overheads include R5 000 each month for depreciation and payment is made monthly. 5. Variable overheads are paid for in the month after they are incurred. 6. Direct materials are purchased by cheque each month. 7. The cash balance on 01 October 2021 is expected to be R30 000. 8. Ten percent (10%) of the sales for December 2021 will be invested in an interest-bearing account for a period of six months. Interest will be received upon maturity. NOTE: ALL ANSWERS MUST BE TYPED OUT AND WORKINGS MUST BE SHOWN