QUESTION 4 (25 MARKS) Kalsom Sdn Bhd is a manufacturing company and producing handkerchief. The company supply the handkerchief in Malaysia and few of other Asian countries. Kalsom Company has projected sales and production in units for the second quarter of the coming year as follows: Sales Production April 55,000 65,000 May 45,000 55,000 June 65,000 55,000 Cash-related production costs are budgeted at RM7 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 will amount to RM110,000 per month. The accounts payable balance on 31 March 2020 totals RM193,000, which will be paid in April. All units are sold on account for RM16 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 1 April 2020 totaled RM520,000 (RM100,000 from February's sales and the remainder from March). Required: a) Prepare a schedule for each month showing budgeted cash disbursements for the Kalsom Sdn Bhd. (13 marks) (CLO2:PLO5:C3) b) Prepare a schedule for each month showing budgeted cash receipts for Kalsom Sdn Bhd. (12 marks) (CLO2:PLO5:03) *** END OF QUESTIONS ***