QUESTION 4 (Total: 15 Marks) Nii Limited manufactures three products called SI, MI, and LAR. The information given below relates to the month of October, 2011. Product Quantity Price/Unit Sales: (Units) SI (GHC) 1200 MI 80 2400 LAR 96 1800 1 12 Materials used in the company's Products: Material Unit cost M1 M2 GHC 3 M3 GHC 5 GHC 8 Quantity used in: MA MB MC (Units) Product ST MA (Units) 5 (Units) Product MIMB WA Product LAR MC NA N Finished stocks: Product (SI) Product (MI) Product(LAR) Units) (Units) Units) Quantities: Ist October 1200 1800 600 31 st October 1320 1980 660 Material stocks: MA MB MC (Units) (Units) (Units) Ist October 31,200 24,000 14,400 31 st October 37, 440 28,800 17,280 Required: (a) Prepare the following functional budgets for the month of October 2012 for 1 Mark (i) Sales in quantity and value, including total value 3 Marks (ii) Production quantities 4 Marks (iii) Material usage in quantities (iv) Material purchases in quantities and value, including total value. 4 Marks (b) Discuss three (3) examples of 'Non Cash Items' that are expected to be ignored under cash budgeting 3 Marks