Question 5 (20 marks) Part 1 (12 marks) Mattress World is a retailing business that sells mattresses. The expected sales volume (i.e. units of product to be sold) for the first four months in 2020 are as follows: Month January February March April Sales (unit) 100 140 130 120 O The following additional information is available: Budgeted purchase price for mattresses is $100. 30 units were in the inventory at the end of December 2019. Mattress world maintain an ending inventory balance of 30% of the next month's expected sales. Required Prepare the Inventory and Purchase Budget for the first three months in 2020. (12 marks) Part 2 (8 marks) The following information pertains to Moon Ltd in 2020: Month January February March Sales $ 62 000 84 000 101 000 Purchases $ 33 000 42 000 61 000 Cash is collected from customers in the following pattern: Month of sale 40% Month following the sale 60% 45% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month. Employee's wages are 30% of sales. Other operating costs are $38 000 per month (including $10 000 of depreciation). Both of these are paid in the month incurred. . Required Calculate the budgeted total cash payment in March 2020. (8 marks)