QUESTION 2 As a practical student at FSR Club Sdn. Bhd., you are exposed to accounting in sport. The accounting year for FSR Club Sdn. Bhd. is from 1 July to 30 June. The manager of FSR Club Sdn. Bhd. has provided you with the following forecasted information: a) The opening cash balance (surplus) of FSR Club Sdn. Bhd. as at 1 March 2020 is expected to be RM 250,000. b) Income for the company for March 2020 to August 2020 are expected to be as follows: Sales March (RM) 375,000 April (RM) 412,500 May (RM) 495,000 June (RM) 742,500 July (RM) 582,000 August (RM) 514,000 Member- 3,375 3,713 4,050 4,725 4,152 3,860 ship fees 1) 10% of sales are on a one-month credit basis. ii) Members pay their fees 'as and when' they are due. The company is expecting to receive a loan of RM125,000 in April 2020. A further amount of RM375,000 is expected to be received in July 2020. Expenses for the company for March 2020 to August 2020 are expected to be as follows: Purchases March (RM) 125,000 April May June (RM) (RM) (RM) 137,500 165,000 247,500 July August (RM) (RM) 215,200 174,100 Fixed 100,000 100,000 100,000 100,000 100,000 100,000 Overhead Cost Other 10,000 13,500 15,950 23,100 20,570 18,640 Variable Cost Salary & 187,500 187,500 187,500 187,500 187,500 187,500 Wages