QUESTION THREE MOBILE LTD manufactures and sells only one type of product, the Lekkerslaap. The following information has been projected for the first six months of 2021. Sales Administration expenses K Premises Volume costs units January 10,000 12.500 25.UUU February 12,000 12,500 25,000 March 15,000 12,500 25,000 Apni 8.000 10,000 22.000 May 7.500 10,000 22.000 June 6,000 10,000 22,000 July 1,500 1. Direct labour cost per unit is K2. 2. The selling price is projected to be K15 per unit in January, February and March, rising by 10% on 1 April, and remaining at that level for May & June. 3. The cost of direct materials is estimated to be K3 per unit. 4. Variable production overhead is 50% of the direct labour cost per unit. 5. Sales and marketing expenditure is projected at K3 per unit sold. 6. Depreciation is calculated at the rate of 20% per year, using the straight-line method. 7. Inventory of one-third of the following month's projected sales volume is to be held at the end of each month. 8. Receivables at 30 June are estimated to be 10% of June sales revenue. 9. Payables at 30 June are projected to total K12 000. Statement of Financial Position at 1 January 2021 ASSES 165,000 Non-current assets Equipment Current Assets Inventory Receivables 19,998 12.000 5 Page Bank 16.750 48.748 213,748 Total assets EQUITY AND LIABILITIES Equity Payables 204,148 9.600 Total Equity and Liabilities 213,748 Required: a) Prepare a budgeted monthly Statement of Profit or Loss for the period 1 January 2021 to 30 June 2021. (20 Marks) b) Prepare a budgeted Statement of Financial Position as at 30 June 2021. (8 Marks) 8 c) Outline the main aims of budgetary control. (7 Marks) ) Total: 35 Marks END OF ASSIGNMENT